This article explores the design, optimization, and applications of FPGA-based Direct Digital Synthesis (DDS) waveform generators. The DDS technology is widely used in signal generation and processing and is favored for its flexibility and precision. The paper discusses performance optimization strategies, focusing on enhancing frequency resolution, waveform quality, and phase accumulation speed. Suggestions include increasing phase accumulator’s bit width, optimizing the size of the phase lookup table, introducing frequency interpolation, and employing fast accumulation algorithms. Additionally, it delves into more applications such as high-precision testing, high-speed communication systems, multi-channel data synchronization, and multi-waveform outputs. The conclusion emphasizes the ongoing need for performance improvements and application advancements. Future directions include exploring higher-precision phase lookup table designs, sophisticated filtering, efficient accumulation algorithms, and leveraging advanced FPGA chips for broader application scope. Overall, FPGA-based DDS waveform generators exhibit significant potential across various domains, promising enhanced signal accuracy and adaptability.