Magnetoelectric multiferroics, where a ferromagnetic and a ferroelectric order coexist and are coupled in a single phase, have been a hot topic in condensed matter physics for a long time owing to their ability to facilitate nextgeneration applications. In this review, we briefly introduce basic concept of the magnetoelectric multiferroic oxides as well as their history, physical origins, and significant achievements. The key moments contributing to the progress of magnetoelectric multiferroics are snapshotted chronologically, and then a discussion on the major magnetic exchange interactions and the ferroelectric origins are presented along with their coupling behavior. Furthermore, we argue a need for modifying the present classification of magnetoelectric multiferroics before presenting the evolution of multiferroics using representative examples with their properties such as magnetic/ferroelectric transition temperature, magnetization/electric polarization, and magnetoelectric coefficient. We hope that this brief review will provide the community researchers with insights into magnetoelectric multiferroic oxides.