Concerning the application of high-precision, enormous rotating equipment under harsh working conditions, the advantages of dry gas sealing technology are increasingly obvious. Herein, research on the dynamic stability of dry gas seals is reviewed based upon their operating mechanisms. The influence of the dry gas seal structure, vibration response, and dynamic followability on the reliability of the shaft end sealing system of rotating machinery is the focus of current dry gas sealing technology. This work reviews the research history; analyzes the key coefficient of the instability of the sealing system under external disturbances, and the existing research on stability models; discusses the influence of starting and stopping characteristics, working conditions, and groove parameters on the stability of dry gas seals; and points out the shortcomings in the existing research. In addition, potential developments in dynamic stability are proposed, including improving model accuracy, improving experimental techniques, or applying intelligent control and optimization methods to enhance the dynamic stability of the sealing system. Finally, the development prospects for dry gas sealing technology in intelligent monitoring and wide temperature range adaptations are discussed, and theoretical guidance for improving a dry gas seal system is provided.