Research on the internal factors and mechanism of livelihood vulnerability, which has become one of the hot spots in sustainable scientific field, can improve the level of livelihood security. This paper reviewed the livelihood vulnerability literature from the perspective of concept, analysis framework, assessment methods. Three conclusions were achieved. Firstly, the scholars' understanding of the concept of livelihood vulnerability has reached consensus. Secondly, the existing evaluation method is lack of multiple perspectives, and the selection of the indicator system is not comprehensive enough. Thirdly, the research on the dynamic mechanism and regulation of livelihood vulnerability and the framework of adaptability will still be further needed. Additionally, some suggestions were given in this paper such as establishing a unified concept system and analysis framework for livelihood vulnerability, improving the evaluation index system and deepening the dynamic mechanism and regulation study of livelihood vulnerability in the study of livelihood vulnerability. In the future, we should gradually unify the livelihood vulnerability analysis framework, enhance the study of driving and regulating mechanisms and evaluation methods of the livelihood vulnerability, promote the research of livelihood vulnerability in the context of national policies and new technologies, and provide a scientific basis for the formulation of related policies.