In the era of artificial intelligence and big data, the demand for data storage, transmission, and processing capabilities has surged. Thus, the prerequisites for data transmission, including bandwidth and communication speed, have experienced an escalation. However, owing to the influence of dielectric materials and transmission rate, the electrical interconnections in system-level packaging present strong phenomena, such as loss, reflection, delay, and crosstalk, which cannot meet the requirements of increasing bandwidth and communication speed. Consequently, advanced packaging technology and photoelectric co-packaging technology encapsulate optical modules and electrical chips within the same package, thereby reducing the interconnection length between them and parasitic effects. Furthermore, it has numerous advantages, such as wide band, anti-electromagnetic interference, low transmission loss and power consumption, and hence, it has become a research hotspot in recent years. This article discusses the basic concepts and advantages of optoelectronic co-packaging, introduces typical 2D, 2.5D, and 3D technologies and the latest developments at home and abroad, and analyzes the challenges that must be addressed as a new generation packaging technology.