Terahertz time-domain spectroscopy is an analytical method using terahertz time-domain pulses to study the physical and chemical properties of substances. It has strong potential for application in pharmaceutical analyses as an original non-destructive, efficient and convenient technology for spectral detection. This review briefly introduces the working principle of terahertz time-domain spectroscopy technology, focuses on the research achievements of this technology in analyses of chemical drugs, traditional Chinese medicine and biological drugs in the past decade. We also reveal the scientific feasibility of practical application of terahertz time-domain spectroscopy for pharmaceutical detection. Finally, we discuss the problems in practical application of terahertz time-domain spectroscopy technology, and the prospect of further development of this technology in pharmaceutical analyses. We hope that this review can provide a reference for application of terahertz time-domain spectroscopy technology in pharmaceutical analyses in the future.