With the increasing processing capabilities of data centers, the demand for advanced cooling has been increased, positioning liquid immersion cooling systems as a focal point due to their effectiveness and environmental benefits. This paper reviews the current state and prospects of liquid immersion cooling technologies for data centers by paper analyzing. The research spans the optimization of cooling technology parameters, material and coolant performance, as well as system level integration and thermal management. The characteristics analysis of liquids and supercritical fluids underscores the significance of coolant selection Innovative cooling network designs have been shown to initiate failures and improve thermal distribution, enhancing data center performance and reliability. Additionally, the interplay between cooling systems and IT systems has been explored for its overall energy efficiency impact. Liquid immersion cooling technology demonstrates vast potential in ensuring safety, enhancing heat exchange efficiency, and meeting the growing needs of future data center development. Nonetheless, a deep understanding of complex fluid dynamics and heat transfer mechanisms remains key to driving technological advantages.