Extensive research has been carried out by researchers for improving the thermal efficiency of the microchannel. There are various types of methodologies that have been proposed by authors for different geometry and fluid flow. The use of microchannel in the miniature heat exchangers and microchannel heat sink (MCHS) have taken the science of heat transfer to an another level for which the field of electronic device cooling, aerospace applications, automobile sectors, biomedical engineering, and chemical engineering sectors are being keen toward further development of the technology. Since 3 decades, the microchannel has been tested numerically, experimentally, and analytically for establishing the theories of hydraulic and thermal efficiency during fluid flow. Improper geometry selection of microchannel may lead to carry various losses such as pressure drop, friction factor, wall shear stress, and temperature jump. Available investigations and results have been reviewed immensely in this paper to give a clear prospective for further research in selecting a proper channel geometry.