Abstract: As one of the lightest metal structure materials, magnesium alloy is aimed at developing high strength, high toughness and high corrosion resistance in aerospace field. The properties of magnesium alloys for aerospace applications in China and other countries in recent years were reviewed. The advanced magnesium alloy casting methods and deformation processes were introduced, and the research progress of high-strength and high-toughness magnesium alloys of different systems was analyzed. The future development direction of magnesium alloy research was prospected.