Augmented reality (AR) displays, as the next generation platform for spatial computing and digital twins, enable users to view digital images superimposed on real-world environment, fostering a deeper level of human-digital interactions. However, as a critical element in an AR system, optical combiners face unprecedented challenges to match the exceptional performance requirements of human vision system while keeping the headset ultracompact and lightweight. After decades of extensive device and material research efforts, and heavy investment in manufacturing technologies, several promising waveguide combiners have been developed. In this review paper, we focus on the perspectives and challenges of optical waveguide combiners for AR displays. We will begin by introducing the basic device structures and operation principles of different AR architectures, and then delve into different waveguide combiners, including geometric and diffractive waveguide combiners. Some commonly used in-couplers and out-couplers, such as prisms, mirrors, surface relief gratings, volume holographic gratings, polarization volume gratings, and metasurface-based couplers, will be discussed, and their properties analyzed in detail. Additionally, we will explore recent advances in waveguide combiner design and modeling, such as exit pupil expansion, wide field of view, geometric architectures of waveguide couplers, full-color propagation, and brightness and color uniformity optimization. Finally, we will discuss the bottlenecks and future development trends in waveguide combiner technologies. The objective of this review is to provide a comprehensive overview of the current state of waveguide combiner technologies, analyze their pros and cons, and then present the future challenges of AR displays.