In this paper, someearly research on drag reduction technology is briefly reviewedand the existing representative underwater turbulence dragreduction technologies are analyzed and discussed in detail. Andthen the research actualities of riblet surface drag reductiontechnology, microbubble drag reduction technology andhydrophobic/superhydrophobic surface drag reduction technology areexpounded through experimental and theoretical researches withdrag reduction mechanisms purposively emphasized. In addition, thedrag reduction technologies by compliant coating and walloscillation are also briefly described. Finally, futuredevelopment of underwater drag reduction technology and itsapplication are prospected.