Because atomic coherence can enhance optical nonlinearity, the four-wave mixing process in hot rubidium atomic vapor is a promising technology to generate squeezed states and entangled states. Among the optical parametric amplifier, the gain of the phase-sensitive amplifier varies with the phase of the input signal, and the phase-sensitive amplification process has low noise characteristics. Therefore, the phase-sensitive four-wave mixing process in hot rubidium atomic vapor has potential application value in practical application. The theoretical scheme of phase-sensitive four-wave mixing process in hot rubidium atomic vapor is introduced. The quantum characteristics of the output field of the system are summarized. The experimental applications of phase-sensitive four-wave mixing process in hot rubidium atomic vapor are reviewed, including proving the quantum squeezing enhancement in a two-mode phase-sensitive amplifier which is induced by its interference effect, realizing two types of entanglement by manipulating the phase of a two-mode phase sensitive amplifier, introducing the direct intensity detection method to measure the phase sensitivity of the bright-seeded SU(1,1) interferometer.