With the increasing demand for high-performance and safe fuels in aerospace propulsion systems, gelled fuels have attracted increasing attention. Because of their unique structure, gelled fuels exhibit the advantages of both solid and liquid fuels, such as high energy density, controllable thrust and storage safety. This review provides an overview on design, preparation and performance characterization of gelled fuels. The composition, preparation process and gelation mechanism of gelled high-energy-density fuels are described. Considering these aspects, the rheology and flow behavior of gelled fuels is summarized in terms of the shear thinning property, dynamic viscoelasticity and thixotropy. Moreover, the progress of atomization of gelled fuels is reviewed with a focus on the effect of atomizing nozzles. In addition, the experiments and theoretical models of single droplet combustion and combustor combustion are described. Finally, research directions for the development and application of gelled fuels are suggested.