Lanthanide-activated alkaline earth aluminate phosphors are excellent luminescent materials that are designed to overcome the limitations of conventional sulfide-based phosphors. The increasing research attention on these phosphors over the past decade has led to a drastic improvement in their phosphorescence efficiencies and resulted in a wide variety of phosphorescence colors, which can facilitate applications in various areas. This review article discusses the development of lanthanide-activated alkaline earth aluminate phosphors with a focus on the various synthesis methods, persistent luminescence mechanisms, activator and coactivator effects, and the effects of compositions. Particular attention has been devoted to alkaline earth aluminate phosphors that are extensively used, such as strontium-, calcium-, and barium-based aluminates. The role of lanthanide ions as activators and coactivators in phosphorescence emissions was also emphasized. Finally, we address recent techniques involving nanomaterial engineering that have also produced lanthanide-activated alkaline earth aluminate phosphors with long-persistent luminescence.