Zeolite-based slow release fertilizers have broad application prospects in agricultural sustainable development due to many advantages such as nutrient retention, soil amendment, soil moisture retention, environment protection, etc. The research on mechanism and application of zeolite-based slow release fertilizers in recent years was reviewed. It was concluded from slow-release mechanism that the exceptional high cations exchange capacity and strong affinity of zeolites for NH+4 and K+ can be exploited to maximize the nitrogen and potassium use efficiency in agricultural applications. Although almost all of zeolites have no high affinity for anionic fertilizers such as NO-3, PO3-4 and SO2-4, by modifying their surface chemistries using cationic surfactant, multifunctional zeolite adsorbents with capability to trap anions and non-polar organics can be obtained. In addition, controlled available phosphorus is achievable by a combination of zeolite ion exchange and phosphate rock dissolution. The application study showed that factors affecting the performance of zeolite-based slow release fertilizers mainly includes zeolite type and application rate, method of the application, zeolite particle size and density, soil texture and structure, as well as nutrition type and supplies. Based on the current research, it pointed out that the economic evaluation, technological development and application demonstration of zeolite-based slow release fertilizers will be the focus of future research.