Processing by tube high-pressure shearing (t-HPS) is a relatively new technique now in the early phase of development within the family of severe plastic deformation (SPD) by comparison with other established techniques such as Equal-Channel Angular Pressing, High Pressure Torsion and Accumulative Roll Bonding. Nevertheless, the technique has demonstrated already its capability to restructure materials to featured microstructures that not reached by the other processing procedures and, in addition, it is efficient in refining the microstructure in a way that is consistent with the other SPD processes.The initialization and development of the principle and processing technique of t-HPS is reviewed in this report together with the microstructure and property improvements of the processed materials. It is demonstrated that there is a unique capability of t-HPS in preparing distinctly featured microstructures and producing unprecedented properties of the processed material by comparison with other SPD processes.As a new SPD technique that is currently under development, several open topics are proposed which are significant for obtaining an understanding of the physical characteristics of t-HPS and for further exploiting the potential of t-HPS in establishing unprecedented properties through distinct and unusual microstructures.