The high-temperature heat pump, as a low-carbonization technology, has broad application prospects in replacing boiler heating, reducing carbon dioxide emissions, and improving the energy utilization efficiency. In this paper, the working fluid, cycle process, key equipment (compressor), and application scenarios of high-temperature heat pumps are introduced in detail. Firstly, the research direction of the working fluid is introduced and the existing working fluid substitution is analyzed and summarized. Then, the characteristics of different heat pump cycles such as compression, absorption, and hybrid heat pumps are introduced. In the aspect of key equipment, the application range and research status of different types of compressors are emphatically introduced. Finally, the application scenario of high-temperature heat pumps is prospected. In addition to the application of industrial heating, it is often used for heat storage to improve the regulatory characteristics of the system. The new heat pump electricity storage system has great application potential in the field of renewable energy consumption. Based on the above analysis of high-temperature heat pumps, four development prospects are put forward: low-Global-Warming-Potential (GWP) working fluid; cycles of temperature lift greater than 80 °C; a compressor with better high-temperature performance; and circulation characteristics of heat pump electricity storage.