Abstract: Powder metallurgy (PM) iron-based materials, with their characteristics of short production processes, near-net-shape forming, and uniform microstructure, hold a broader application prospect in the fields of automotive, mechanical, and aerospace industries during the green and low-carbon development phase. However, fatigue performance has become a bottleneck restricting the in-depth development of PM iron-based materials. This paper comprehensively summarizes the current state of research on the fatigue of powder metallurgy materials both domestically and internationally, dissects the factors affecting the fatigue performance of PM materials and their mechanisms of action, and focuses on exploring potential methods to improve the fatigue properties of PM iron-based materials, laying a theoretical foundation for enhancing the fatigue performance of these materials.