Abstract: The current steel grades, material compositions, and heat treatment processes of martensitic stainless steels used in knives an scissors were reviewed systematically. Focusing on the core requirements of cutting performance and corrosion resistance for cutting tools, recent research advances in enhancing comprehensive material properties through optimizing heat treatment processes, controlling carbide morphology, developing high-nitrogen martensitic stainless steels, and applying surface treatment technologies were summarized. Additionally, the methods for antibacterial functionalization of martensitic stainless steels were summarized. Finally, the development trend of martensitic stainless steels for knives and scissors was prospected, and valuable exploration directions were proposed.