SLM (Selective Laser Melting) is a unique additive manufacturing technology which plays an irreplaceable role in the modern industrial revolution. 3D printers can directly process metal powder quickly to obtain the necessary parts faster. Shortly, it will be possible to manufacture products at unparalleled speeds. Advanced manufacturing technology is used to produce durable and efficient parts with different metals that have good metal structure performance and excellent metal thermal performance, to lead the way for laser powder printing technology. Traditional creative ways are usually limited by time, and cannot respond to customers’ needs fast enough; for some parts with high precision and complexity, conventional manufacturing methods are inadequate. Contrary to this, SLM technology offers some advantages, such as requiring no molds this decreases production time and helps to reduce costs. In addition, SLM technology has strong comprehensive functions, which can reduce assembly time and improve material utilization. Parts with complex structures, such as cavities and three-dimensional grids, can be made without restricting the shape of products. Products or parts can be printed quickly without the use of expensive production equipment. The product quality is better, and the mechanical load performance is comparable to traditional production technologies (such as forging). This paper introduces in detail the process parameters that affect SLM technology and how they affect SLM, commonly used metal materials and non-metallic materials, and summarizes the current research. Finally, the problems faced by SLM are prospected.