In the field of optoelectronic display, quantum dot (QD) display has attracted intensive attention due to its wide spectral adjustability, narrow full width at half maxima (FWHM), high color purity and other excellent properties, which is considered to be an outstanding candidate for the next generation of display technology. The performance of quantum dots light-emitting diodes (QLEDs) has been rapidly improved, and especially the red, green and blue cadmium-based QLEDs all show comparable luminescent performance to organic light emitting diodes (OLED). However, cadmium is a seriously hazard to human body and environment and violates sustainable development path. Therefore, researchers pay more attention to environment-friendly quantum dot materials, among which InP quantum dot with the outstanding properties such as large Bohr radius, wide spectral adjustability and so on has become the most promising environment-friendly material to replace cadmium-based quantum dots. In this work, the recent progress about the synthesis and photoluminescence performance of InP quantum dots (core-shell structure, ligand selection, etc.) and the luminescent performance of InP QLED are summarized, and the current problems and challenges as well as the feasible solutions in InP QLED are discussed and outlooked.