Polyhedral oligomeric silsesquioxane (POSS) is an important inorganic-organic hybrid material with a threedimensional structure. Polyurethane (PU) is a widely applied polymer that has versatile properties with the change of two phase structure. When POSS is incorporated into PU by physical or chemical methods, many properties can be greatly improved, such as mechanical properties, thermal stability, biodegradation resistance, and water resistance. This paper reviews the recent progress in preparation, structure, and performance of POSS-modified polyurethane from the viewpoint of physical blending and chemical modification.