Al/Fe dissimilar metals welding has the advantages of lightweight structure and good comprehensive performance, which has a wide application prospect in aerospace, nuclear power energy, automobile, electronic and electrical appliances and other industries. However, due to the difference of physical properties, there are still many problems in joining methods and processes of Al/Fe dissimilar metals. Electromagnetic pulse welding, a solid-state welding technology, which can effectively overcome the welding problems caused by the different properties of dissimilar metals, is widely used in welding of dissimilar metals such as Al/Fe. This paper briefly analyzes the problems existing in Al/Fe dissimilar metal welding, and the welding principle, process, characteristics of electromagnetic pulse welding technology. Then summarizes and analyzes the new progress of electromagnetic pulse welding technology from the aspects of process research, equipment optimization, joint performance, interface morphology and bonding mechanism, numerical simulation, and the combination of various welding methods, and puts forward corresponding suggestions for the future technological development.