The microchannel heat sink (MCHS) has the advantages of small heat transfer resistance, high heat transfer efficiency and small size, which exhibits good heat transfer performance in the field of active heat dissipation of electronic devices integrated with high heat flux density. In this paper, the application of MCHS in thermal management is reviewed in recent years, and the research progress of microchannel topology on enhancing heat transfer performance is summarized. Firstly, the research progress on the cross-sectional shape of the microchannel shows that the heat transfer area and fluid flow dead zone of the microchannel is the keys to affecting the heat transfer performance; Secondly, the microchannel distribution and the bionic microchannel structure have a great role in enhancing heat transfer performance, especially in microchannel temperature uniformity; Thirdly, the disturbing effect caused by interrupted structures in microchannels such as ribs and concave cavities has become a hot topic of research because it can weaken the thermal boundary layer and increase heat dissipation. Finally, the commonly used MCHS materials and cooling media are summarized and introduced. Based on the above reviews of MCHS research and applications, the future trends of MCHS topologies are presented.