Abstract: The performance and characteristics of Mo₂NiB₂-based cermet are reviewed, and the common preparation methods, such as vacuum liquid sintering technique, laser cladding technique, solid phase reaction method, reactive thermal spraying method, and casting sintering method, and their advantages and disadvantages of Mo₂NiB₂-based cermets are described in detail. The hardness, wear resistance and corrosion resistance of Mo₂NiB₂-based cermets prepared by different techniques are briefly described, and the related application fields of Mo₂NiB₂-based cermets are summarized. Finally the future research direction of Mo₂NiB₂-based cermets at home is prospected.