Simulated moving bed (SMB) chromatography is a highly efficient adsorption-based separation technology with various industrial applications. At present, its application has been successfully extended to the biochemical and pharmaceutical industrial sectors. SMB possesses the advantages of high product purity and yield, large feed treatment capacity, and simple process control due to the continuous operation mode and the efficient separation mechanism, particularly for difficult separation. Moreover, SMB performs well, particularly for multi-component separation or complicated systems’ purification processes in which each component exhibits similar properties and low resolution. With the development of the economy and technology, SMB technology needs to be improved and optimized to enhance its performance and deal with more complex separation tasks. This paper summarizes the typical variants or modifications of the SMB process through three aspects: zone variant, gradient variant, and feed or operation variant. The corresponding modification principles, operating modes, advantages, limitations, and practical application areas of each variant were comprehensively investigated. Finally, the application prospect and development direction were summarized, which could provide valuable recommendations and guidance for future research in the SMB area.