In recent years, the intensive utilization of water resources in the Yellow River basin has significantly improved, with the development scale of unconventional water resources continuously expanding. Nevertheless, the structural contradiction and systemic pressure between the supply and demand of water resources remain prominent, and thus the sustainable utilization of water resources in the basin faces severe challenges. This study aims to address the contradiction between water resource scarcity and the demand for high-quality development in the Yellow River basin. It reviews the current status of unconventional water resource development and utilization in the basin from the following aspects: utilization of reclaimed water, large-scale seawater desalination, rainwater harvesting, mine water utilization, and comprehensive utilization of brackish water. Key challenges are also identified from the aspects of utilization scale, top-level design, supporting infrastructure, technical standards, and critical technologies. Furthermore, this study examines the inherent principles and developmental logic governing unconventional water resource exploitation in the basin from the perspectives of differentiated, coordinated, and sustainable development. A strategy centered on "zone-specific differentiated development + diversified coordination" is proposed, encompassing strategic system construction, precise resource allocation, technological innovation breakthroughs, and robust institutional safeguards. This study can provide a fundamental reference for improving the governance of unconventional water resources and facilitating the sustainable utilization of water resources in the Yellow River basin.