A highly efficient receiver is required because re-radiation loss increases dramatically with increased working temperature. Among a large number of receivers, the fixed-bed Particle Solar Receiver (PSR) represents a new pathway to high temperature with maximum overall thermal efficiency. The incoming solar radiation can penetrate deeper into the fixed-bed PSR filled with semi-transparent quartz and ceramic particles (spheres or Raschig rings), resulting in an increased volumetric effect. Reports show that an optimized PSR can realize overall receiver efficiency of around 92% at outlet temperatures above 1000 K, and achieve the annual temperature above 1000 K over 65% annual operating hours integrated with a concentrated solar power (CSP) system. To fully understand radiative heat transfer characteristics and provide deep insight into thermal efficiency, radiation energy is classified as incident solar radiation and radiative heat exchange in two parts. The transfer mechanism, the solution method and the progress of the investigation for each section are summarized and discussed in detail. Then, challenges and future directions, including an innovative design method, an improved experimental approach and an effective simulation method are proposed to put forward this receiver to be a preferred substitute in advanced, high-temperature power cycles.