Condition monitoring, diagnostics, and prognostics are key factors in today’s competitive industrial sector. Equipment digitalisation has increased the amount of available data throughout the industrial process, and the development of new and more advanced techniques has significantly improved the performance of industrial machines. This publication focuses on surveying the last decade of evolution of condition monitoring, diagnostic, and prognostic techniques using machine-learning (ML)-based models for the improvement of the operational performance of gas turbines. A comprehensive review of the literature led to a performance assessment of ML models and their applications to gas turbines, as well as a discussion of the major challenges and opportunities for the research on these kind of engines. This paper further concludes that the combination of the available information captured through the collectors and the ML techniques shows promising results in increasing the accuracy, robustness, precision, and generalisation of industrial gas turbine equipment.