Two-dimensional (2D) layered materials, such as graphene, hexagonal boron nitride (h-BN), molybdenum disulfide (MoS), have attracted tremendous interest due to their atom-thickness structures and excellent physical properties. h-BN has predominant advantages as the dielectric substrate in FET devices due to its outstanding properties such as chemically inert surface, being free of dangling bonds and surface charge traps, especially the large-band-gap insulativity. h-BN involved vertical heterostructures have been widely exploited during the past few years. Such heterostructures adopting h-BN as dielectric layers exhibit enhanced electronic performance, and provide further possibilities for device engineering. Besides, a series of intriguing physical phenomena are observed in certain vertical heterostructures, such as superlattice potential induced replication of Dirac points, band gap tuning, Hofstadter butterfly states, gate-dependent pseudospin mixing. Herein we focus on the rapid developments of h-BN synthesis and fabrication of vertical heterostructures devices based on h-BN, and review the novel properties as well as the potential applications of the heterostructures composed of h-BN.