With the implementation of new carbon reduction rules for international shipping, as well as the domestic "peak carbon and carbon neutrality" strategy, the innovative air lubrication drag reduction technology for ship energy-saving and carbon reduction has recently attracted increasing attention in the shipping and shipbuilding industries. At present, according to the drag reduction mechanism and two-phase interfacial morphology, air lubrication can be divided into continuous air layer drag reduction and dispersed bubble drag reduction. We introduce the application status of continuous air layer drag reduction and dispersed bubble drag reduction both at home and abroad. An overview of the layout, form, drag reduction and net energy-saving of ship air lubrication is provided. The energy-saving and carbon reduction benefits of ship air lubrication are then discussed based on the reported data. Finally, brief predictions are made for the technical challenges and directions worthy of further research in the application of air lubrication.