Polyurethane prepolymer, as a key intermediate in the synthesis of polyurethane materials, is rich in highly reactive isocyanate groups (—NCO)at the end of its molecular chain, giving it excellent design and reaction characteristics, which plays an important role in material synthesis and modification. The research progress of polyurethane prepolymers based on prepolymerization was systematically reviewed. The basic types, main raw materials, synthesis mechanism and typical preparation processes of polyurethane prepolymers were emphatically described, and the intrinsic relationship between the structure and properties of prepolymers was analyzed. The influence mechanism of key factors such as process parameters, additives, environmental moisture and raw material ratio on the properties of prepolymer was further discussed. Finally, combined with the current application status of polyurethane prepolymer in many fields, its future development direction was prospected, and corresponding optimization strategies were proposed for the problems existing in practical applications, so as to promote its efficient and accurate application in industrial production.