Sliding mode control (SMC) has been a very popular control technology due to its simplicity and robustness against uncertainties and disturbances since its inception more than 60 years ago. Its very foundation of stability and stabilization is built on the principle of the Lyapunov theory which ascertains asymptotic stability. In the 1990s, a novel class of SMC, called the terminal sliding mode control (TSMC), was proposed which has been studied and applied extensively, giving rise to a robust control with tunable finite-time convergence delivering fast response, high precision, and strong robustness. In recent years, interest in this particular control technology has been increasing. This paper provides an overview of the state of the art of the TSMC theory and its applications, and postulates key technical issues and future challenges.