Amid environmental pollution and resource depletion, developing and utilizing biomass resources as alternatives to petroleum is a prominent research focus. Driven by environmental protection and sustainable development, the shift from petroleum-based to bio-based polyurethane is a prevailing trend in polyurethane material development. Biomass sources such as vegetable oil, polysaccharides, and lignin offer extensive application prospects in bio-based polyurethane production. Functional modifications of these polyurethanes can further expand their application range. This article explores the preparation of various bio-based polyurethanes, their applications across different fields, and their anticipated future development and uses.