Hydrate-based CO2 sequestration is a novel technology to reduce CO2 emissions and mitigate global warming. The reduction of the induction time and increase of the formation rate and gas storage capacity are the key points for industrially storing CO2 hydrate. In this review, the research progress of various compound additives for promoting the formation of CO2 hydrate is reviewed. The promotion mechanisms of different additives and effects of different compound additives on the formation characteristics of CO2 hydrate are analyzed and summarized. Additionally, the promotion effects of different compound additives are compared and evaluated, challenges and constraints of the current compound additives discussed, and development trends and directions proposed.