Zirconium alloy is the one and only fuel cladding material for pressurized water reactor (PWR) in full-scale commercial use at present, and its water-side corrosion resistance is the dominant factor for the safety and economy of nuclear reactor. The trace alloying elements (Fe, Nb etc.) are existed in zirconium matrix in the form of dispersive secondary phase precipitates (SPPs), which has a crucial influence on the corrosion behavior of zirconium alloy. The type of SPP for various zirconium alloys was compared in this article, and then the corrosion behaviors and influence factors of typical SPPs were reviewed. The corrosion procedures of principal alloying elements Fe and Nb within the binary and/or ternary SPPs were compared respectively, and the difference of SPP corrosion products under different water chemistry and the further effects on the corrosion behavior of zirconium matrix were also summerized. Meanwhile, the deficiencies of current studies on SPP corrosion behavior were indicated. Finally, the future research vision of SPP in zirconium alloy was enunciated herein, and advanced microstructure characterization methods will further refine the mechanism study on corrosion of SPPs bearing Fe and/or Nb, which will provide theoretical support for the corrosion resistance improvement of domestic novel zirconium cladding materials.