Integrated circuit is a fundamental part of modern electronics, so it can be discovered in almost every electronic product. Therefore, a summary of the development of integrated circuit is very important for the professionals. The history, current applications, and challenges of integrated circuit will be discussed. In order to include all the important events of integrated circuit, in the history section, the discovery of characteristics of semiconductors, the invention of the first transistor, the first bipolar junction transistor (BJT), the first field effect transistor (FET), the first integrated circuit, and the first microprocessor will be demonstrated. Next section is about current applications by functions, including analog, digital and mixed signal IC. Finally, challenges that IC is facing right now, and prospects will be discussed. Understanding the history and current applications will help people to predict the future and find solutions of challenges.