Intermetallic based alloys of Mo-Si-B ternary system exhibit high melting point, brittle-to-ductile transition, good high-temperature oxidation resistance, and relatively low density. Unfortunately, the high brittleness at low temperature, the insufficient high-temperature strength at above 1 300 ℃, especially the creep strength limit its application as potential ultra-high-temperature structural materials. The research status on processing, microstructure, elevated temperature oxidation resistance, mechanical properties and alloying of T2, Moss＋Mo3Si＋T2 and T1＋T2＋Mo3Si phase regions is reviewed in this paper. Moreover, it is pointed out that the in-situ synthesis technology and the multi-component micro-alloying should be paid more attention to in the development of Mo-Si-B alloy.