Abstract: When the size of materials is reduced to the micro/nanoscale, they often show unique properties, greatly broadening the application fields of materials. Ultrafine copper powder is widely used in the chemical, light industry, electronics and medicine fields because of its high activity, high specific surface area, high strength and excellent electrical conductivity. The polyol method for preparing ultrafine copper powder has the advantages of simple equipment, non-toxic and harmless raw materials, excellent performance and great development potential. In this paper, the research progress in preparing ultrafine copper powder by polyol method was reviewed. The basic principle and reaction course of the reaction were described and the influence of various factors on such reaction was analyzed. The role of strong base, concentration of copper ions and polyol molecules in changing the reaction process and regulating the properties of copper powder was emphatically introduced. Finally, synthesized ultrafine copper powder by the polyol method was summarized and prospected.