Thermal nanofluids, the engineered fluids with dispersed functional nanoparticles, have exhibited extraordinary thermophysical properties and added functionalities, and thus have enabled a broad range of important applications. The poor dispersion stability of thermal nanofluids, however, has been considered as a longexisting issue that limits their further development and practical application. This review overviews the recent efforts and progresses in improving the dispersion stability of thermal nanofluids such as mechanistic understanding of dispersion behavior of nanofluids, examples of both water-based and oil-based nanofluids,strategies to stabilize nanofluids, and characterization techniques for dispersion behavior of nanofluids. Finally,on-going research needs, and possible solutions to research challenges and future research directions in exploring stably dispersed thermal nanofluids are discussed.