In general, most of the substances in nature exist in mixtures, and the noninvasive identification of mixture composition with high speed and accuracy remains a difficult task. However, the development of Raman spectroscopy, machine learning, and deep learning techniques has paved the way for achieving efficient analytical tools capable of identifying mixture components, thus leading to an apparent breakthrough in the identification of mixtures beyond traditional chemical analysis methods. This review summarizes the work of Raman spectroscopy in identifying the composition of substances; reviews the preprocessing process of Raman spectroscopy, artificial intelligence analysis methods, and analysis procedures; and examines the application of artificial intelligence. Finally, the advantages and disadvantages and development prospects of Raman spectroscopy are discussed in detail.