The enzymatic production of fatty acids from vegetable oils is becoming a preferred method due to its mild conditions, simplicity, and scalability. This review analyzes studies on enzymatic hydrolysis, exploring various feedstocks, lipases, reaction conditions, and conversion yields. However, a key limitation is the longer reaction time compared to conventional methods. This limitation is primarily due to the immiscibility of triacylglycerols (TAGs) with water at low temperatures and pressures, as well as the lower activity of enzymes compared to chemical catalysts. To overcome these issues, chemical additives are identified as the most effective process intensification strategy. They are easy to implement, cause less damage to lipases, and are more efficient than mechanical methods. The impact of various chemical additives was thoroughly examined for potential improvements in the enzymatic hydrolysis of vegetable oils. A synergistic combination of chemical additives comprising ionic liquids (ILs) and polyols, along with ultrasound, as well as the consideration of immobilization techniques were explored. Overall, this review highlights the potential of chemical additives and their synergistic feasibility in enhancing the enzymatic performance of lipase-catalyzed hydrolysis reactions.