The rapid development of the Drosophila-like compound eye visual neural computational modeling technology has improved the real-time detection and tracking of motion targets and other bionic applications a research challenge. The Drosophila-like compound eye visual neural system is a special highly parallel visual neural network model that uses moderate complexity to provide fast visual information processing. In this study, the status of current research on the visual neural computational modeling of the Drosophila-like compound eye is discussed in detail in four parts: physiological structure of the Drosophila-like compound eye, photoelectric conversion of the photoreceptor cells, processing of the optic lobe nerve, and cognitive decision of the central brain. The typical bionic applications of the Drosophila-like compound eye visual neural computational modeling in the military and civilian fields are introduced, and the development trends and challenges of the computational modeling are considered.