Fluxgate magnetic sensors are especially important in detecting weak magnetic fields. The mechanism of a fluxgate magnetic sensor is based on Faraday’s law of electromagnetic induction. The structure of a fluxgate magnetic sensor mainly consists of excitation windings, core and sensing windings, similar to the structure of a transformer. To date, they have been applied to many fields such as geophysics and astro-observations, wearable electronic devices and non-destructive testing. In this review, we report the recent progress in both the basic research and applications of fluxgate magnetic sensors, especially in the past two years. Regarding the basic research, we focus on the progress in lowering the noise, better calibration methods and increasing the sensitivity. Concerning applications, we introduce recent work about fluxgate magnetometers on spacecraft, unmanned aerial vehicles, wearable electronic devices and defect detection in coiled tubing. Based on the above work, we hope that we can have a clearer prospect about the future research direction of fluxgate magnetic sensor.