Two-dimensional　(2D)　materials　have　attracted　broad　interest　because　of　their　low-dimensional　effect,　and　black　phosphorus　has　become　a　member　of　them　due　to　the　successful　preparation.　Phosphorus　has　several　allotropes,　white　phosphorus,　red　phosphorus　and　black　phosphorus.　Black　phosphorus　is　most　thermodynamic　stable　in　them.　Black　phosphorus　was　obtained　by　a　phase　transition　from　white　or　red　phosphorus　at　high　pressure　and　high　temperature.　It　is　a　natural　p-type　semiconductor　in　which　each　layer　is　vertically　stacked　by　the　van　der　Waals　force.　The　thickness　of　black　phosphorus　can　be　scaled　down　to　the　atomic　layer　scale　known　as　phosphorene　by　mechanical　exfoliation　or　liquid　exfoliation.　In　nowadays,　pulsed　laser　deposition　(PLD)　has　also　been　used　in　synthesis　of　phosphorene　film.　Compared　with　black　phosphorus,　phosphorene＇s　physical　properties　have　significant　changes.　The　band　gap　in　bulk　black　phosphorus　is　0.3　eV　and　can　be　expanded　to　1.0　to　1.5　eV　depending　on　the　layer　numbers.　The　range　of　phosphorene　band　gap　corresponds　to　an　absorption　spectrum　between　visible　light　to　infrared.　Moreover,　the　band　gap　of　phosphorene　is　also　highly　sensitive　to　the　strain　either　in-plane　or　out-of-plane.　The　phosphorene　based　field　effect　transistor　(FET)　exhibits　a　high　mobility　and　appreciably　high　on/off　ratios,　and　the　mobility　is　thickness　dependent.　Unlike　other　two-dimensional　(2D)　materials,　phosphorene　has　in-plane　anisotropy　which　is　suitable　for　the　detecting　of　polarized　light.　Hence,　the　unique　properties　in　black　phosphorus,　along　with　its　high　carrier　mobility,　make　it　as　a　promising　material　in　electronic　applications.　Nevertheless,　the　poor　chemical　and　structural　stability　of　black　phosphorus　and　phosphorene　raises　important　concerns.　In　the　past　century,　the　synthesis,　physical　properties,　and　device　applications　have　been　extensively　investigated　in　various　studies.　In　this　review　article,　a　lot　of　references　of　black　phosphorus　are　cited　to　introduce　systematically　the　research　progresses　of　structure　and　preparation,　the　study　of　material　properties　and　device　performance,　the　chemistry　of　the　degradation　process　and　the　anti-degradation　treatments.　At　last,　the　development　trend　of　phosphorene　is　mentioned.