DC-DC power module has been increasingly widely used in car manufacturing industry and studied by scientists due to its crucial role in electric vehicles. It has two major functions. One is to provide electric power that motivates the power steering system, air conditioning, and other auxiliary equipment; the other is to operate in a hybrid electric source system by connecting with super-capacitors in series in a circuit, which performs a function of regulating power source output, as well as stabilizing the DC voltage bus. This review aims to investigate the fundamental principle of DC-DC converter, to comprehensively review the different types of DC-DC power modules and their characteristics, as well as their advantages and limitations. In addition, to discuss the major challenges existing in this system currently, and the potential it has for future developments, which refers to the power output efficiency of the system when it is applied in electric vehicles. Finally, to demonstrate some real-life applications of this module, the representative examples of firms successfully applying this power module into production. This paper has a guiding significance for acknowledging the current state of development of DC-DC power modules in the electric vehicle system, and for studying some related research fields.