As a direction and research hotspot of the future development of hydraulic control valves, the highspeed onoff valves are receiving more and more attention from researchers. This paper reviews the Research status of high speed onoff valve driven by smart material both at home and abroad, including the types of the electromechanical converters driven by smart material and its microdisplacement amplifier, as well as the high speed onoff valve driven by the magnetostrictive materials, piezoelectric stack, shape memory alloy and magnetic fluid. The advantages and disadvantages of highspeed onoff valves driven by various smart materials are analyzed, and the application characteristics of various smart materials to the highspeed onoff valves are obtained.