Artificial blood vessels made from polyurethane (PU) have been researched for many years but are not yet in clinical use. The main reason was that the PU materials are prone to degradation after contact with blood and will also cause inflammation after long-term implantation. At present, PU has made progress in biostability and biocompatibility, respectively. The PU for artificial blood vessels still requires a balance between material stability and biocompatibility to maintain its long-term stability in vivo, which needs to be further optimized. Based on the requirement of PU materials for artificial vascular applications, this paper views the development of biostable PU, bioactive PU, and bioresorbable PU. The improvement of biostable PU from the monomer structure, chemical composition, and additives are discussed to improve the long-term biostability in vivo. The surface grafting and functionalization methods of bioactive PU to reduce thrombosis and promote endothelialization for improving biocompatibility are summarized. In addition, the bioresorbable PU for tissue-engineered artificial blood vessels is discussed to balance between the degradation rate and mechanical properties. The ideal PU materials for artificial blood vessels must have good mechanical properties, stability, and biocompatibility at the same time. Finally, the application potential of PU materials in artificial vascular is prospected.