The subsea production system was developed from a submerged wellhead to half dry-type subsea wellhead to a whole wet-type subsea wellhead. Up to now, the subsea production system has established including the subsea wellhead, subsea pipe network, subsea manifold, subsea remote control system, and others. Until 2014, there were 6,400 subsea completed wells, about 320 subsea oil and gas fields in the world’s oceans. Now, the subsea production system is becoming the leading areas of the deep water. Since Liuhua 11-1 oil field was developed using the subsea production system in the South China Sea in 1996, so far, 10 units subsea production systems have been used to develop the offshore oil and gas filed. This paper reviews the application and achievement of the subsea production technology, on this base, the main research areas and strategic directions are presented.