The era of information explosion is coming and information need to be continuously stored and randomly accessed over long-term periods, which constitute an insurmountable challenge for existing data centers. At present, computing devices use the von Neumann architecture with separate computing and memory units, which exposes the shortcomings of “memory bottleneck”. Nonvolatile memristor can realize data storage and in-memory computing at the same time and promises to overcome this bottleneck. Phase-change random access memory (PCRAM) is called one of the best solutions for next generation non-volatile memory. Due to its high speed, good data retention, high density, low power consumption, PCRAM has the broad commercial prospects in the in-memory computing application. In this review, the research progress of phase-change materials and device structures for PCRAM, as well as the most critical performances for a universal memory, such as speed, capacity, and power consumption, are reviewed. By comparing the advantages and disadvantages of phase-change optical disk and PCRAM, a new concept of optoelectronic hybrid storage based on phase-change material is proposed. Furthermore, its feasibility to replace existing memory technologies as a universal memory is also discussed as well.