Along with the development of industry and the improvement of people’s living standards, peoples’ demand on resources has greatly increased, causing energy crises and environmental pollution. In recent years, photocatalytic technology has shown great potential as a low-cost, environmentally-friendly, and sustainable technology, and it has become a hot research topic. However, current photocatalytic technology cannot meet industrial requirements. The biggest challenge in the industrialization of photocatalyst technology is the development of an ideal photocatalyst, which should possess four features, including a high photocatalytic efficiency, a large specific surface area, a full utilization of sunlight, and recyclability. In this review, starting from the photocatalytic reaction mechanism and the preparation of the photocatalyst, we review the classification of current photocatalysts and the methods for improving photocatalytic performance; we also further discuss the potential industrial usage of photocatalytic technology. This review also aims to provide basic and comprehensive information on the industrialization of photocatalysis technology.