Generating high-quality 4D content from monocular videos for applications such as digital humans and AR/VR poses challenges in ensuring temporal and spatial consistency, preserving intricate details, and incorporating user guidance effectively. To overcome these challenges, we introduce Splat4D, a novel framework enabling high-fidelity 4D content generation from a monocular video. Splat4D achieves superior performance while maintaining faithful spatial-temporal coherence by leveraging multi-view rendering, inconsistency identification, a video diffusion model, and an asymmetric U-Net for refinement. Through extensive evaluations on public benchmarks, Splat4D consistently demonstrates state-of-the-art performance across various metrics, underscoring the efficacy of our approach. Additionally, the versatility of Splat4D is validated in various applications such as text/image conditioned 4D generation, 4D human generation, and text-guided content editing, producing coherent outcomes following user instructions.