The advent of reactive powder concrete (RPC) has brought about the era of ultra-high performance concrete (UHPC), and the incorporation of fiber has brought about more possibilities for its application. Basalt fiber reinforced reactive powder concrete (BFRPC), as the product of the combination of RPC and fiber, has become a new engineering material that has received much attention from scholars in recent years. Compared with traditional UHPC, BFRPC is superior in corrosion resistance, material compatibility, cost performance, environmental protection, and other aspects; therefore, it is destined to have a wide range of applications in the future. In this article, we extensively reviewed the literature on basalt fiber reinforced RPC in the past decade from the perspective of work performance, mechanical properties, and durability. Moreover, we summarized the research progress and achievements on BFRPCs in the following points: (1) The performance of BFRPCs is mainly influenced by three factors: the frictional resistance between fine aggregates, the consistency of the cement slurry, and the three-dimensional random interweaving of basalt fibers; (2) the mechanical properties of BFRPC are mainly influenced by curing conditions, the design of the RPC matrix proportional mix, and the addition of basalt fibers up to a threshold; (3) thanks in part to RPC’s density and the filling and bridging of fibers, BFRPC exhibits uniform and good performance in durability indicators. However, there are still some problems in the current development of BFRPC, such as inconsistent test conclusions among different scholars and a lack of scenarios in which to apply BFRPC. This paper also puts forward the prospect from the aspects of theoretical research and practical application, and provides a reference for subsequent related work.