One of the alternatives for effective storage of irregularly produced renewable energy is hydrogen energy. In order to realize a hydrogen-based society, not only environmentally friendly production of hydrogen but also effective storage is very important. Underground hydrogen storage technology is a technology that has evolved from the technology for storing natural gas underground, and includes waste gas fields, salt domes, aquifers, and rock cavities. When stored underground, hydrogen is converted into high-pressure gaseous hydrogen, liquefied hydrogen, and ammonia. Liquefied hydrogen requires extremely low storage temperatures, and ammonia is a toxic substance that requires separate handling, and energy loss occurs during the conversion process. To compensate for this, research on liquefied hydrogen, such as multilayer insulation technology, is being conducted. Ammonia has successfully extracted high-purity hydrogen by developing a membrane reactor. Ammonia toxicity can be prevented by strengthening leak detection and blocking facilities. Among these, ammonia was found to be the most suitable for underground storage in terms of economic feasibility, environment, and commercialization.