Morchella spp. are one of the most prized edible fungi in the world. After years of domestication and cultivation, China has successfully developed artificial cultivation technology and bred a series of cultivars with independent intellectual property rights. In 2012, Morchella spp. had been artificially cultivated on a large scale in China, and currently the cultivated area is more than 200 km². As a fungus of Ascomycota, Morchella spp. have significant differences in biological and genetic characteristics, especially in the process and patterns of sexual reproduction, compared to common edible fungi of Basidiomycota. The cultivation technology of Morchella spp. is also different from the other common edible fungi, and its exogenous nutrition bag technology is a unique approach in the field of edible fungi cultivation. As a newly domesticated edible fungi with important economic value, the research on its basic biology and cultivation technology have rapidly become a hot topic in the field of edible fungi. Although research progress is advancing rapidly, there are still many urgent problems to be solved in the production. For example, the instability of fructification, as well as super sensitivity of the primordia and young fruit bodies to environmental conditions, usually resulted in serious yield losses and even no harvest under unfavorable conditions. This article briefly reviews the research progress and existing problems in the taxonomy, biological characteristics, genetic characteristics, breeding, spawn preparation, cultivation technology, continuous cropping obstacles, diseases and pests of Morchella spp. in recent years. It also puts forward the key points and difficulties that still need to be paid attention to in future research. This provides a reference for the study of the basic biology and production application technology of Morchella spp..