Ethylene oligomers, notably 1-hexene and 1-octene, are usually used as co-monomers in the production of linear low-density polyethylene (LLDPE). Because of the great value of 1-hexene and 1-octene, there have been many reports on the selective oligomerization of ethylene to 1-hexene and 1-octene recently. Research of ethylene oligomerization focuses mainly on the synthesis of catalysts and the mechanism of oligomerization. Much of this research concerns investigation into a catalytic system that can oligomerize ethylene to 1-hexene or 1-octene with high selectivity and activity. Different kinds of catalysts have been synthesized to catalyze the reactions, and the chromium-based homogeneous catalysts are found to be the most suitable ones. This article reviews the recent research progress in synthesis of chromium catalyst systems and study on the mechanism of ethylene oligomerization catalyzed by these catalysts.