Abstract: Vanadium redox flow batteries (VRFBs) is widely used in large-scale energy storage system because of its excellent performance. The electrolyte is one of the key materials of VRFBs. Its performance is very important to develop VRFBs. The composition and preparation method of electrolyte, the effect of additives on the stability of electrolyte, and the recovery-utilization of invalidation electrolyte were reviewed. The recovery-utilization of vanadium resources of invalidation electrolyte in VRFBs application and study, the stability of electrolyte and the cost of the system in the industrial application should be considered mainly.