With the development of recombinant DNA technology, a growing number of peptides and proteins are being applied to clinical treatment of diseases. However, a huge challenge needed to be addressed for many therapeutic peptides or proteins is that their half-lives in circulation is short due to rapid renal clearance and enzymatic degradation. To overcome the challenge, half-life extension strategies have been extensively developed. Albumin-binding strategy, whether covalent or non-covalent, represent a widely applied and highly successful half-life extension strategy, and many products have been marketed or tested in clinical trials. This review focuses on the utilization of albumin for half-life prolongation and emphasizes on the albumin-binding drugs already on the market or in the clinical stage. We summarize the related techniques including genetic fusion, chemical conjugation, non-covalent binding fatty acid and protein moieties.