This review summarizes the current status, operating principles, and recent advances in high-temperature polymer electrolyte membranes (HT-PEMs), with a particular focus on the recent developments, technical challenges, and commercial prospects of the HT-PEM fuel cells. A detailed review of the most recent research activities has been covered by this work, with a major focus on the state-of-the-art concepts describing the proton conductivity and degradation mechanisms of HT-PEMs. In addition, the fuel cell performance and the lifetime of HT-PEM fuel cells as a function of operating conditions have been discussed. In addition, the review highlights the important outcomes found in the recent literature about the HT-PEM fuel cell. The main objectives of this review paper are as follows: (1) the latest development of the HT-PEMs, primarily based on polybenzimidazole membranes and (2) the latest development of the fuel cell performance and the lifetime of the HT-PEMs.