Eucalyptus is an important plantation tree with a high economic value in China. The tree contributes significantly to China’s timber production. The stable and efficient Eucalyptus regeneration system and genetic transformation system are of great significance for exploring the regulatory function and possible genetic breeding capacity of important genes in the species. However, as a woody plant, Eucalyptus has problems, such as a long generation cycle, strong specificity of the regeneration system, and a low genetic conversion rate, which seriously limit the rapid development of Eucalyptus genetics and breeding programs. The present review summarizes the status of research on Eucalyptus regeneration and genetic transformation, with a focus on the effects of explants, media, plant growth regulators (PGRs), and concentrations in the Eucalyptus regeneration process. In addition, the effects of genotype, Agrobacterium, antibiotics, preculture, and co-culture on the genetic transformation efficiency of Eucalyptus are discussed. Furthermore, the study also summarizes the problems encountered in Eucalyptus regeneration and genetic transformation, with reference to previous studies, and it outlines future developments and prospects. The aim was to provide a reference for solving the problems of genetic instability and the low transformation efficiency of eucalyptus, and to establish an efficient and stable eucalyptus regeneration and transformation system to accelerate the process of its genetic improvement.