Kaplan turbines, as one of the well-known hydraulic turbines, are generally utilized worldwide for low-head and high-flow conditions. Any failure in each of the turbine components can result in long-term downtime and high repair costs. In a particular case, if other parts are damaged due to the impact of the broken blades (e.g., the main shaft of the turbine), the whole power plant may be shut down. On the other hand, further research on the primary causes of failures in turbines can help improve the present failure evaluation methodologies in power plants. Hence, the main objective of this paper is to present the major causes of Kaplan turbine failures to prevent excessive damage to the equipment and provide practical solutions for them. In general, turbines are mainly subjected to both Internal Object Damage (IOD) and Foreign Object Damage (FOD). Accordingly, this paper presents a state-of-the-art review of Kaplan turbine failures related to material and physical defects, deficiencies in design, deficits in manufacturing and assembly processes, corrosion failures, fatigue failure, cavitation wear, types of cavitation in hydro turbines, hydro-abrasive problems, and hydro-erosion problems. Eventually, the authors have attempted to discuss practical hints (e.g., nanostructured coatings) to prevent damages and improve the performance of Kaplan turbines.