The femtosecond optical frequency comb based on mode-locked laser is a laser source which can emit trains of pulses with stable repetition rate, and the spectrum of the pulses consists of a comb of optical frequencies with equal spacing. Femtosecond optical frequency combs can link the microwave frequency to the optical frequency, achieving the direct measurement of absolute optical frequency. Besides, as special lasers different from traditional stabilized continuous wave lasers, femtosecond optical frequency combs present superiorities in the optical precision measurement areas such as laser frequency rulers, absolute distance measurements and precision spectroscopy measurements. The recent progress, key techniques and potential directions of femtosecond optical frequency combs for precision measurement applications are reviewed. Femtosecond optical frequency combs will play an important role in the field of optical precision measurements in future.