Accelerated life test (ALT) is currently the main method of assessing product reliability rapidly, and the design of efficient test plans is a critical step to ensure that ALTs can assess the product reliability accurately, quickly, and economically. With the promotion of the national strategy of civil-military integration, ALT will be widely used in the research and development (R&D) of various types of products, and the ALT plan design theory will face further challenges. To aid engineers in selecting appropriate theories and to stimulate researchers to develop the theories required in engineering, with focus on the demands for theory research that arise from the implementation of ALT, this paper reviews and summarizes the development of ALT plan design theory. The development of the theory and method for planning optimal ALT for location-scale distribution, which is the most applied and mature theory of designing the optimal ALT plan, are described in detail. Taking this as the center of radiation, some problems that ALT now faces, such as the verification of the statistical model, limitation of sample size, solutions of resource limits, optimization of the test arrangement, and management of product complexity, are discussed, and the general ideas and methods of solving these problems are analyzed. Suggestions for selecting appropriate ALT plan design theories are proposed, and the urgent solved theory problems and opinions of their solutions are proposed. Based on the principle of convenience for engineers to select appropriate methods according to the problems found in practice, this paper reviews the development of optimal ALT plan design theory by taking the engineering problems arising from the ALT implementation as the main thread, provides guidelines on selecting appropriate theories for engineers, and proposes opinions about the urgent solved theory problems for researchers.