As a new type of cathode materials for lithium-ion battery, the olivine LiFePO4 has many advantages, such as abundant resources, low cost, environmental friend, higher energy density and theoretical capacity, steady discharge voltage, good thermal stability and excellent cycling performance, to be a strong competitor for the next generation cathode materials for lithium-ion battery. In this paper, the structure, properties and existing problems are briefly introduced and various synthetic methods for preparation state-of-the-art are summarized for LiFePO4, such as solid-state reaction methods and liquid-state synthetic methods. The advantages and drawbacks of each methods are compared and analyzed at the same time. The research progresses on improving electrochemical property of LiFePO4 at home and abroad in recent years are discussed, and the developing trend of LiFePO4 is also prospected