Poly(lactic acid) (PLA), one of the most promising bio-based degradable materials, has been widely applied in biomedicine and textile industries due to its superior properties. Unfortunately, the further application of PLA is limited by the defects of easy combustion. Therefore, the flame-retardant PLA (FR-PLA) has drawn much attention from both academia and industrial community. In order to better understand the current situation and development trend of FR-PLA, the combustion process and flame-retardant mechanism of PLA were introduced firstly. Then, the latest progress of flame retardant modification of PLA was comprehensively reviewed, including the physical blending, chemical copolymerization and surface modification. Meanwhile, the present situation of physical blending FR-PLA was emphatically described, and the advantages and disadvantages of different additive flame retardants were also analyzed. In the end, we put forward the future prospect of FR-PLA according to the characteristics of PLA and social development demand. The FR-PLA with multiple functions, environmental protection, high efficiency and stabilization will become future development trend.