As the key hot end component of aero-engine, hollow turbine blades are usually made by near-net shape investment casting process, which has low molding quality and high rejection rate. Firstly, the research status of investment precision casting technology in “precise shape control” was introduced. It was found that the accuracy of shrinkage fraction assignment in mold design directly affects the dimensional accuracy of precision castings. Then, the influencing factors of casting shrinkage fraction during solidification process were summarized, and the research process of structural correlation of shrinkage fraction was analyzed emphatically. Finally, the research results of shrinkage fraction distribution of precision castings such as hollow turbine blades were summarized.