The work aims to analyze and summarize the recent research on shape memory polymers (SMP) and their application in high-tech fields, and propose their development trends in the future. Based on the analysis of SMP’s mech-anism, the preparation methods and processes of SMP were analyzed systematically. Influences of modification methods on the main properties of SMP materials were summarized. Its potential application in many high-tech fields and the development prospection of shape memory bio-based polymer composites were pointed out. In conclusion, the preparation process is a main factor that affects the mechanical and memory properties of SMP; proper modification method can improve the ductility and versatility of SMP materials, broaden their applications in intelligent packaging, aerospace, medical devices, robotics and other high-tech fields.