Due to its high hydrogen storage efficiency and safety, Mg/MgHsub.2 stands out from many solid hydrogen storage materials and is considered as one of the most promising solid hydrogen storage materials. However, thermodynamic/kinetic deficiencies of the performance of Mg/MgHsub.2 limit its practical applications for which a series of improvements have been carried out by scholars. This paper summarizes, analyzes and organizes the current research status of the hydrogen storage performance of Mg/MgHsub.2 and its improvement measures, discusses in detail the hot studies on improving the hydrogen storage performance of Mg/MgHsub.2 (improvement measures, such as alloying treatment, nano-treatment and catalyst doping), and focuses on the discussion and in-depth analysis of the catalytic effects and mechanisms of various metal-based catalysts on the kinetic and cyclic performance of Mg/MgHsub.2. Finally, the challenges and opportunities faced by Mg/MgHsub.2 are discussed, and strategies to improve its hydrogen storage performance are proposed to provide ideas and help for the next research in Mg/MgHsub.2 and the whole field of hydrogen storage.