The hydrogen storage principle of metallic hydride is briefly introduced. The latest progress in RE series, AB 2 type Laves phase, BCC solid solution type and Mg based hydrogen storage alloy were surveyed. The application of hydrogen storage alloy used for hydrogen storage container, Ni/MH cell, hydride heat pump, catalyst, hydrogen purification etc. were briefly introduced. The problems of low hydrogen storage capacity, pulverization and performance degradation in hydrogen storage alloy were analyzed. The developing trend of hydrogen storage alloy was predicted.