Fine spherical metal powders are the main raw materials for metal additive manufacturing (3D printing). Gas atomization technology is an important method to produce fine spherical metal powders. From the perspectives of increasing fine powder yield, improving powder quality and developing new powder materials, the research status and development trend of gas atomization technology for preparation of feedstock powder used in metal additive manufacturing were analyzed. Those methods used for increasing fine powder yield during gas atomization were summarized, which were developed based on optimizing atomizer design, enhancing atomizing medium properties or improving melt characteristics. The formation mechanism of hollow particles during gas atomization was analyzed, and the control methods of hollow particles were proposed. The formation mechanism of satellite particles during gas atomization was analyzed, and the control methods of satellite particles were proposed. Metal-matrix-composite (MMC) particles were proposed for additive manufacturing of composite parts. The research progress on metal atomization methods coupled with particle co-injection for the preparation of MMC particles was briefly introduced.