Abstract: Molybdenum and molybdenum alloys prepared by the powder metallurgy method are widely used in metallurgy, machinery, chemical industry, aviation and nuclear industry, attributing to the outstanding mechanical properties at elevated temperatures. The mechanical properties of molybdenum alloys can be improved by solid-solution strengthening, second phase strengthening, fine grain strengthening, and other strengthening methods, broadening the application of molybdenum alloys. The research progress of molybdenum alloys prepared by powder metallurgy was introduced in this paper, including the powder preparation method, pressing process, and bulk sintering process. Moreover, the methods and mechanisms of strengthening and toughening for the molybdenum alloys were discussed in details. Finally, the development direction of molybdenum alloys prepared by powder metallurgy method was prospected to provide some ideas for the design and preparation of the molybdenum alloys.