In the relentless evolution of technological innovation, the incorporation of engineered materials across numerous sectors is becoming increasingly widespread. Among them, ultra-high molecular weight polyethylene (UHMWPE) fiber, as a novel type of engineered material, has emerged as a critical hot topic in industries such as aerospace, national defense, and new energy due to its exceptional physical and chemical properties. This article attempts to introduce the characteristics of UHMWPE fibers, including their advantages and areas for enhancement, to provide researchers with a comprehensive overview and research trajectory of UHMWPE. Moreover, this article succinctly elucidates the preparation methodologies and advances of UHMWPE fibers, encompassing mainstream dry and wet spinning methods, revealing their research trajectories, pivotal positions, and practical significance in the realm of engineered materials. In summary, this review briefly discusses the research overview and recent advances in UHMWPE fibers, which contribute to accelerating comprehensive and sustainable progress in this field.