The formation process, structure, and distribution of gas hydrate in sediments have become focal points in exploring and exploiting natural gas hydrate. To better understand the dynamic behavior of gas hydrate formation in sediments, transverse relaxation time (T2) of nuclear magnetic resonance (NMR) is widely used to quantitatively characterize the formation process of gas hydrate and the change in pore characteristics of sediments. NMR T2 has been considered as a rapid and non-destructive method to distinguish the phase states of water, gas, and gas hydrate, estimate the saturations of water and gas hydrate, and analyze the kinetics of gas hydrate formation in sediments. NMR T2 is also widely employed to specify the pore structure in sediments in terms of pore size distribution, porosity, and permeability. For the recognition of the advantages and shortage of NMR T2 method, comparisons with other methods as X-ray CT, cryo-SEM, etc., are made regarding the application characteristics including resolution, phase recognition, and scanning time. As a future perspective, combining NMR T2 with other techniques can more effectively characterize the dynamic behavior of gas hydrate formation and pore structure in sediments.