Liquid-liquid phase separation (LLPS) is a biophysical phenomenon within cells that holds significance in cellular regulation, signal transduction, and various biological processes. Over recent years, it has caught considerable attentions. This paper delves into the fundamental concepts, mechanisms of formation, physiological functions, and disease associations related to LLPS. Furthermore, it projects future research trajectories and potential applications. Investigating LLPS offers fresh insights into cellular regulatory mechanisms and disease progression, simultaneously opening avenues for drug development and bio- technological innovations.