The primary purpose of this paper is to investigate energy regeneration and conversion technologies based on mechanical–electric–hydraulic hybrid energy storage systems in vehicles. There has been renewed interest in hydraulic storage systems since evidence has been presented that shows that they have the distinct advantages of high energy output and energy recuperation compared to electrical energy recovery systems, which are widely applied in electric vehicles; however, they are known to be high-cost, with a complicated structure and not zero carbon. In this paper, we first review recent research on hydraulic energy regeneration and conversion technologies. Secondly, as the main part of this paper, the latest technological progress and breakthroughs of the mechanical–electric–hydraulic hybrid energy storage systems in vehicles—which are divided into four categories: passenger, minibus and bus, commercial vehicle and special vehicle—are analyzed and discussed in depth. In addition, the current research status of energy management techniques is presented and summarized. Finally, prospects and challenges are suggested and explained. It is evident from the literature review that the mechanical–electric–hydraulic hybrid systems perform excellently in vehicles. Clearly, this review will be helpful to understand, explore and define the hydraulic vehicle of the future concerning energy optimization and environmental friendliness.