Sediment gravity flow, one of the two most important transport flows, has attracted widespread attentions due to its significance in recording geological events, changing geomorphology and exploring hydrocarbon resources since 1950s. The history of sediment gravity flow study may be divided into five stage, i.e., random observation, concepts system, sedimentary models, industrial application and crisis, debris flow study. In recent 20 years, great advances had been made in rebuilding of concept on sandy debris flow, classification schemes of sedimentary gravity flow on the basis of division of debris flows, “hydroplaning” transport mechanism and forming conditions systematic discussion based on clay contents and clay compositions. As a result, another research boom on sediment gravity flow was formed since 1996 after the first research boom in 1960's and 1970's. The comprehensive analysis from progresses on theoretic research, experiment and industrial application of subaqueous debris flow and other gravity flows showed that four directions would be become the hotspots as following: (1) classification scheme of subaqueous debris flow and modification of classification of sediment gravity flows, (2) transportation and deposition mechanism study based on flume experiments restrained by modern submarine field observation, (3) muddy debrite and trubidite study and its significance in evaluation of hydrocarbon resources and (4) sedimentary models dominated by subaqueous debris flow and application to hydrocarbon exploration and production.