Ferroptosis is a novel type of iron-dependent cell death driven by lipid peroxidation. More and more evidence shows that ferroptosis is related to various pathological conditions, such as neurodegenerative diseases, diabetic nephropathy, and cancer. Ferroptosis driven by lipid peroxidation may promote or inhibit the occurrence and development of these diseases. The intracellular antioxidant system plays an important role in resisting ferroptosis by inhibiting lipid peroxidation. The key pathways of ferroptosis include the amino acid metabolism pathway with SLC7A11-GPX4 as the key molecule, the iron metabolism pathway with ferritin or transferrin as the main component, and the lipid metabolism pathway. The occurrence of ferroptosis is regulated by intracellular proteins, which undergo various post-translational modifications, including ubiquitination. The ubiquitin-proteasome system (UPS) is one of the main degradation systems in cells. It catalyzes the ubiquitin molecule to label the protein and then the proteasome recognizes and degrades the target protein. UPS promotes ferroptosis by promoting the degradation of key ferroptosis molecules (such as SLC7A11, GPX4, and GSH) and antioxidant systems (such as NRF2). UPS can also inhibit ferroptosis by promoting the degradation of related molecules in the lipid metabolism pathway (such as ACLS4 and ALOX15). In this review, we summarize the latest research progress of ubiquitination modification in the regulation of ferroptosis, generalize the published studies on the regulation of ferroptosis by E3 ubiquitin ligase and deubiquitination, and sum up the targets of ubiquitin ligase and deubiquitination regulating ferroptosis, which is helpful to identify new prognostic indicators in human diseases and provide potential therapeutic strategies for these diseases.