Long non-coding RNAs (lncRNAs) refer to a class of RNA molecules with poor protein coding potential and are usually larger than 200 nucleotides. SPRY4-IT1, a member of lncRNA, is derived from an intronic region within the SPRY4 gene. And accumulating evidence demonstrates that aberrant expression of SPRY4-IT1 is involved in the development of various diseases such as melanoma, esophageal squamous cell carcinoma (ESCC), renal cancer, gastric cancer, breast cancer, bladder cancer, Non-small-cell lung cancer (NSCLC), and preeclampsia. SPRY4-IT1 is significantly related to not only progression and prognosis of diseases but also cell proliferation, migration, invasion. SPRY4-IT1 contributes to various diseases via different molecular mechanism such as regulating the expression of proteins related to cell growth and migration, involving in epithelial-mesenchymal transition (EMT), affecting lipid metabolism, and regulating downstream gene expression. Moreover, SPRY4-IT1 can also be regulated by some epigenetic factors including Zeste homolog 2 (EZH2). Therefore, SPRY4-IT1 may be a novel prognostic biomarker and a potential therapeutic candidate for different diseases including various solid cancers and preeclampsia.