One of the hot research directions in space civil engineering is the exploration of constructing stations on celestial bodies beyond Earth, a journey that will commence from the Moon. This paper provides a systematic review of the research progress on lunar regolith simulants and their geotechnical engineering applications. It elaborates on the definition, composition, mechanical properties, and density of lunar regolith, highlighting its significant differences from terrestrial soil in terms of composition and particle morphology. Three main development methods for lunar regolith simulants are summarized, and the characteristics of various domestic and international simulants are described categorically, with particular attention paid to the development of new simulants based on the Chang'e-5 lunar samples. Finally, the application of simulants as construction materials for lunar base building is discussed. Concurrently, the paper reviews the standardized testing methods for simulants in geotechnical mechanics experiments and their application in large-scale geotechnical engineering experiments, aiming to establish a standardized evaluation system. This work provides crucial theoretical and technical support for the future development of lunar regolith simulants and the construction of lunar bases.