To promote the development of laser technology and its application, the Chinese Academy of Engineering launched a major consulting project “Strategic Research on China’s Laser Technology and Its Application by 2035” in 2018. This paper is a comprehensive research report on the project. It briefly analyzes laser technology and its instrumental, leading, and disruptive role in scientific research and industrial application, and summarizes the present situation of research and application of laser technology in frontier laser, manufacturing, information and communication, medical treatment, and other fields in China. Several problems that restrict the rapid development of lasers are presented, and the development goals of China’s laser technology and its application by 2035 are conceived. To achieve these goals, China should strengthen the overall planning at the top level to lead the rapid development of laser technology and its application and strengthen basic research to make breakthroughs in major basic problems, common technology foundation, and basic materials and devices. It also should establish research and development special projects concerning laser application to create multiple new laser industry chains, and innovate its industry coordination mechanism to improve the innovation ecology of laser industry. Moreover, China should strengthen the basic education concerning the laser technology and promote talent cultivation of the laser and optical disciplines.