Solar cells represent a promising innovation in energy storage, offering not only exceptional cleanliness and low cost but also a high degree of flexibility, rendering them widely applicable. In recent years, scientists have dedicated substantial efforts to enhancing the performance of solar cells, aiming to drive sustainable development and promote clean energy applications. One approach that has garnered significant attention is strain engineering, which involves the adjustment of material microstructure and organization through mechanical tensile or compressive strain, ultimately serving to enhance the mechanical properties and performance stability of materials. This paper aims to provide a comprehensive review of the latest advancements in the application of strain engineering in solar cells, focused on the current hot research area—perovskite solar cells. Specifically, it delves into the origins and characterization of strain in solar cells, the impact of strain on solar cell performance, and the methods for regulating stable strain. Furthermore, it outlines strategies for enhancing the power conversion efficiency (PCE) and stability of solar cells through strain engineering. Finally, the paper conducts an analysis of the challenges encountered in the development process and presents a forward-looking perspective on further enhancing the performance of solar cells through strain engineering.