Abstract: Vanadium dioxide（VO2）has polymorphs of B with a metastable monoclinic rutile structure，M with a monoclinic rutile structure and R with a tetragonal rutile structure. VO2 is a potential functional material in various fields for its specific optical and electrical properties. This paper reviews the preparation of nano VO2（B）powders including methods，reagents and temperature. The properties and prospective applications of VO2（B）are described. The key technology and progress in synthesizing VO2（M）powders are discussed. The phase transition between VO2（M）and VO2（R）are analyzed with the types，induction factors，temperature fluctuating source and mechanism study. Based on the recent research progress since 2007，it is proposed that the research of phase transition mechanism is necessary for controll the phase transition properties of VO2 powders，which would be the trend of future research in VO2 materials.