Unconventional resource exploration has boosted U.S. oil and gas production, which is successfully by horizontal well drilling and hydraulic fracturing. The horizontal well with multiple transverse fractures has proven to be effective stimulation approach could increase reservoir contact significantly. Unlike the single fracture planes in typical low permeability sands, fractures in shales tends to generate more complex, branching networks. The concept of stimulated reservoir volume (SRV) was developed to quantitative measure of multistage fracture interact with natural fractures in unconventional reservoir. However, the simple fracture modeling of the past do not suitable for the complex scenarios simulation. This paper reviews the mainstream characterization method of stimulated reservoir volume in shale reservoirs, including microseismic interpretation, rate transient analysis method, analytical and semi-analytical method and numerical method. Finally, the systematic evaluation of application conditions with respect to each method and further research directions for characterization method are proposed.