Ambient water condenses readily on metal oxides, which can lead to water film formation and water-mediated reactions at the oxide surface. Similar to bulk water, thin water films with thicknesses below 10 molecular layers can modify the oxide surface chemical reactivity and stability. However, due to the confinement of mass transport at the oxide surface, these processes do not proceed exactly as they do in bulk liquid water. In this review article, we will present selected examples from our group and others’ that illustrate the rich interaction of MgO and TiO2 nanostructures with thin water films. We will show that these condensed water films can induce significant chemical, structural, and microstructural transformations of metal oxide nanostructures such as dissolution/precipitation, morphological changes, crystallization, and self-assembly in the solid state.