The blue phase is a highly chiral liquid crystal phase state that is usually between the isotropic state and the cholesteric phase. Because of its unique optical isotropy, fast electric field response and selective reflection wavelength and other optical properties, the blue phase liquid crystals have good development prospects in liquid crystal displays, optical devices, and tunable three-dimensional photonic crystals. Therefore, in recent years, blue-phase liquid crystal materials have attracted a lot of attention from researchers at home and abroad. This article reviews the development process of blue-phase liquid crystals, the research progress of blue-phase liquid crystal network polymers, and the current status of their applications in innovative applications. The application limitations of blue-phase materials in the fields of display and microelectronics are discussed, and the opportunities and challenges of blue-phase liquid crystal and blue-phase network polymers in the design of advanced functional materials and device applications are summarized.