For decades, high-frequency (HF) radar has played an important role in sensing the Earth’s environment. Advances in radar technology are providing opportunities to significantly improve the performance of HF radar, and to introduce more applications. This paper presents a low-power, small-size, and multifunctional HF radar developed by the Ionospheric Laboratory of Wuhan University, referred to as the Wuhan Ionospheric Oblique Backscattering Sounding System (WIOBSS). Progress in the development of this radar is described in detail, including the basic principles of operation, the system configuration, the sounding waveforms, and the signal and data processing methods. Furthermore, its various remote sensing applications are briefly reviewed to show the good performance of this radar. Finally, some suggested solutions are given for further improvement of its performance.