The unique geographic and climatic conditions of Lop Nur during the Quaternary generated the deposition of the world’s peculiar glauberite giants and the accumulation of large- scale intercrystalline potassium- rich brine. Therefore, the evolution of saline lake and genesis of brine potash deposits in Lop Nur have attracted widely attention of geologists. It has been over 20 years since the super large- scale brine potash deposits in the Luobei depression was discovered in 1995 and considerable progress has been made in terms of scientific research, investigation and exploitation for potash deposits. And the world’s largest production base for high quality K2SO4 fertilizer has been built in Lop Nur. This paper reviews and summarizes the important research results in terms of sedimentary evolution of saline lake, formation conditions and theory, and exploration of potash deposits since the discovery of potash deposits in Lop Nur, with an attempt to understand the relationship of the potash- formation innovation and exploration breakthrough. The theoretical studies for formation of potash deposits in Lop Nur can be summarized as follows: ①based on the recognition of basinal separation and ore- migration along with tectonic movement, a model of “high mountaindeep basintectonic migration” was proposed after “high mountain- deep basin” model, leading to the discovering of the Luobei potash deposits. ②Based on discovery of enormous glauberite deposit, a “three- stage brine- crystallization potash formation” model has been reshaped to “two- stage potash formation” model, leading to the large- scale exploration in Luobei and its surroundings. ③According to the discovery of graben- type fault- subsidence zone, the “brine- bearing wall” model for reservoir formation was established, guiding prospecting in “vertical reservoir” from “horizontal reservoir”, which has resulted in discovery of the deep brine aquifer. In summary, each theoretic innovation of potash formation in Lop Nur has correspondingly brought up breakthrough in potash exploration. Further research on formation regularity of potash deposits in Lop Nur is still required to form new understandings and new directions for potash exploration.