AlGaN/GaN high electron mobility transistors (HEMTs) are regarded as promising candidates for a 5G communication system, which demands higher frequency and power. Source/drain ohmic contact is one of the key fabrication processes crucial to the device performance. Firstly, Au-contained metal stacks combined with RTA high-temperature ohmic contact schemes were presented and analyzed, including process conditions and contact formation mechanisms. Considering the issues with the Au-contained technique, the overview of a sequence of Au-free schemes is given and comprehensively discussed. In addition, in order to solve various problems caused by high-temperature conditions, novel annealing techniques including microwave annealing (MWA) and laser annealing (LA) were proposed to form Au-free low-temperature ohmic contact to AlGaN/GaN HEMT. The effects of the annealing method on surface morphology, gate leakage, dynamic on-resistance (RON), and other device characteristics are investigated and presented in this paper. By using a low-temperature annealing atmosphere or selective annealing method, gate-first Si-CMOS compatible AlGaN/GaN HEMT technology can be realized for high frequency and power application.