The changes of A and B elements have great effects on the electrochemical properties and microstructure for the rare-earth based ABs-type hydrogen storage alloy as the cathode material of Ni-MH batteries. The electrochemical properties of rare earth-based hydrogen storage alloy, and the substitution of A and B in the ABs-type hydrogen storage alloy are reviewed and the relationship of substituted elements and electrochemical properties are summarized in order to provide some ideas for researchers.