Vanadium alloys are the promising first wall and blanket materials for fusion reactors. Large amounts of helium (He) and hydrogen (H) impurities are produced inside the materials along with irradiation defects under neutron irradiation, leading to bubble formation and microstructure changes, which will degrade the thermal and mechanical properties of vanadium alloys. The microstructure changes of materials are influenced by the interactions of point defects with solute atoms. Nowadays, first-principles calculations are intensively performed to elucidate these interactions, clustering, and dissolution, which can provide valuable information for the design of high-performance anti-irradiation materials. This paper reviews the recent findings of the interactions of point defects (vacancies, self-interstitial atoms) with substitutional solutes and interstitial solutes (C, O, N, H, and He) as well as their clusters in vanadium and its alloys from first-principles calculations.