Abstract: Ferrate is a kind of green and environmental friendly water treatment agent which possesses strong oxidation potential and can further generate ferric coagulating agents simultaneously. As a result, it is widely concerned in the field of water and wastewater treatment. Based on an analysis of researches at home and abroad, the methods of synthesis and characterization of ferrate were reviewed. Meanwhile, the applications of ferrate in water and wastewater treatment, such as algae removal, disinfection, heavy metal ions removal, and organic and emerging micro-pollutants elimination were summarized. The existing problems faced in large-scale applications of ferrate were discussed, and the development prospects were finally forecasted.