Thermal Barrier Coatings (TBCs) is a high-efficiency functional thermal insulation coating used for aero-engine and combustion gas turbine. The yttrium partially (mass fraction 6%~8%) stabilized zirconia (YSZ) is commonly used for TBCs. The failure mechanism of YSZ is firstly introduced from the aspects of TGO growth, high temperature sintering, CMAS corrosion, salt spray corrosion and thermal expansion mismatch. The above factors will cause coating delamination, cracking and even failure to varying degrees. Then the improvement of the performance and property of YSZ is discussed by controlling the interface reaction rate and element diffusion rate, changing the chemical composition and structure of the coatings. In order to meet the development requirements of the next generation of ultra-high temperature thermal barrier coatings, the improvement of preparation technology and the properties of new materials have been studied at home and abroad in recent years. Thermal barrier coatings with different microstructures can be obtained by adjusting the spray distance of plasma physical vapor deposition, and nano-structured coatings with better thermal shock resistance, wear resistance and corrosion resistance, toughness and machinability can be prepared by using nano-powder re-granulation technology. The study of ABO3 perovskite structure barium salt, tantalite, garnet structure rare earth aluminate, magnetic lead structure rare earth aluminate, monazite structure rare earth phosphate and other new ceramic layer materials is a popular topic. Compared with the traditional YSZ, the new ceramic layer material has excellent high-temperature phase stability, thermal expansion coefficient, thermal conductivity and other properties, but it has disadvantages such as low fracture toughness and complex composition. Finally, provides direction for future research and looks forward to the challenges.