Metal halide perovskites (MHPs) have been developing rapidly in recent years due to their outstanding optoelectronic properties and tremendous contributions from worldwide researchers. The external quantum efficiencies of perovskite light-emitting diodes (Pero-LEDs) have all exceeded 20% for the green, red, and near-infrared emitting ones. However, the toxicity and instability issues of the lead-based MHPs are still big problems limiting their practical applications. The applications of the lead-free MHPs (LFMHPs) are emerging as one of the most promising strategies to tackle these issues. Compared with lead-based MHPs, the LFMHPs show better environment stability and broader emission regions from the violet to near-infrared wavelength. Thanks to numerous contributions made by the researchers, great progress has already been made for the LFMHPs. For example, the photoluminescence quantum yield has reached near 100%. However, the performances of the lead-free Pero-LEDs are still lagging compared with their lead-based counterparts. In this review, we comprehensively summarize the synthesis developments of LFMHPs and their applications in the down-conversion white LEDs and electroluminescent Pero-LEDs. Moreover, some suggestions and outlooks of the lead-free Pero-LEDs developments are proposed in the end.