The intermediate fluid vaporizer (IFV), different from other liquefied natural gas (LNG) vaporizers, has many advantages and has shown a great potential for future applications. In this present paper, studies of IFV and its heat transfer characteristics in the LNG vaporization unit E2 are systematically reviewed. The research methods involved include theoretical analysis, experimental investigation, numerical simulation, and process simulation. First, relevant studies on the overall calculation and system design of IFV are summarized, including the structural innovation design, the thermal calculation model, and the selection of different intermediate fluids. Moreover, studies on the fluid flow and heat transfer behaviors of the supercritical LNG inside the tubes and the condensation heat transfer of the intermediate fluid outside the tubes are summarized. In the thermal calculations of the IFV, the selections of the existing heat transfer correlations about the intermediate fluids are inconsistent in different studies, and there lacks the accuracy evaluation of those correlations or comparison with experimental data. Furthermore, corresponding experiments or numerical simulations on the cryogenic condensation heat transfer outside the tubes in the IFV need to be further improved, compared to those in the refrigeration and air-conditioning temperature range. Therefore, suggestions for further studies of IFV are provided as well.