In this article, the studies undertaken on brazed diamond tools were reviewed. The influences of the brazing alloys with different active elements on the brazing quality of brazed diamond tools are emphatically discussed. The differences in the micromorphology, friction and wear properties, and mechanical properties of brazed diamonds caused by three different brazing alloys are described in detail. The quality evaluation of brazed diamond tools is discussed from several aspects, such as the difference in microstructure of the diamond/brazing alloy interface, the friction and wear of brazed diamond tools, and the strength and residual stress of the brazing interface. Finally, relevant open questions related to the brazed diamond tools’ performance are outlined, and the future has been prospected.