Rare bismuth III-V semiconductor materials have broad prospects in the field of electronic and optoelectronic devices. The preparation methods mainly include molecular beam epitaxy (MBE) and metal-organic vapor phase epitaxy (MOVPE). This article focuses on GaAsxBi1-x semiconductor materials which show physical characteristics of large bandgap reduction, temperature insensitivity, strong spin-orbit splitting, and provides a review of their preparation methods and research progress. Researches on GaAsBi materials are mainly on the preparation of thin films, multiple quantum wells, nanowires, and quantum dots materials. In the aspect of thin films materials, the emphasis is on studying the influence of preparation process conditions on GaAsBi thin films, such as low substrate temperature, low growth rate, and unconventional V/III flux ratios; for multiple quantum wells materials, the use of dual substrate temperature techniques can effectively reduce Bi segregation; for nanowires and quantum dots materials, metallic Bi, as a surface-active agent, can improve the morphology and optical properties of the materials. However, there are still challenges in the research and application of this material, such as the degradation of crystalline quality in thin films materials, the problem of metallic Bi agglomeration, and controversies regarding the uniformity and formation mechanism of Bi in quantum dots materials. Addressing these issues is of great significance for improving the quality of GaAsxBi1-x semiconductor materials and promoting device development.