Organic solid waste is considered a renewable resource that can be converted by various technologies into valuable products. Conventional thermophilic composting (TC), a well-studied and mature technology, can be applied to organic solid waste treatment to achieve waste reduction, mineralization, and humification simultaneously. However, poor efficiency, a long processing period, as well as low compost quality have always limited its wide application. In order to overcome these shortages, hyperthermophilic composting (HTC) has been recently put forward. This paper reviews the basic principle, process flow, operation parameters, research advances, and application status of HTC. Compared with the TC process, the shorter composting period and higher temperature and treatment efficiency, as well as more desirable compost quality, can be achieved during HTC by inoculating the waste with hyperthermophilic microbes. Additionally, HTC can reduce greenhouse gas emission, increase the removal rate of microplastics and antibiotic residues, and achieve in-situ remediation of heavy metal-polluted soils, which greatly improve its application potential for organic solid waste treatment. This paper also proposes the limitations and future prospects of HTC technology for a wider application. As a result, this review advances our understanding of the HTC process, which promotes its further investigation and application.