The electrical conductivity and wave velocity of basalt are important parameters for analyzing the evolution of the crust and mantle; they are also used in many fields, such as underground engineering. To analyze the influences of pressure and temperature on the electrical conductivity and wave velocity of basalt, this review summarizes many relevant references. The results show that mineralogical composition, microstructure, porosity, pressure and temperature have important influences on the conductivity and wave velocity of basalt. Electrical conductivity increases with temperature, while wave velocity tends to decrease with increasing temperature (especially above 400 °C) under low-pressure conditions (perhaps below 2 GPa). At high pressure (above 3 GPa), the wave velocity remains unchanged below 500 °C, while an abrupt increase occurs between approximately 500 and 850 °C, followed by a quick decrease above approximately 850 °C.