Invented and continuously optimized during two decades of the shale revolution that completely transformed the global energy market, dissolvable magnesium (DM) alloy technology has advanced significantly in both performance improvement and cost reduction, and thousands of tons of Mg alloy are consumed annually by oil and gas industry to fabricate downhole tools, including dissolvable hydraulic frac plugs. In this book chapter, every aspect of this technology will be reviewed, including history, development routes, manufacturing process, dissolving mechanism and control, failure analysis and prevention, influence of environments, delayed coating, field experience, etc., and outlook will be provided at the end for future development.