The renormalization group method proposed by 't Hooft is developed for the study of scaling properties of some models of nonequilibrium phenomena. For one of two models studied in detail, the Langevin equation for the random variables contains a bilinear streaming velocity and the stationary probability distribution is Gaussian. The time-dependent Ginzburg-Landau model is chosen as a second example because it illustrates the advantage of the 't Hooft method of not having to specify a particular renormalization point. The scaling exponents for a model of the liquid-gas phase transition are calculated in lowest order to illustrate application of the method to a multifield system.