Inspired by the superhydrophobic properties of some plants and animals with special structures, such as self-cleaning, water repellent, and drag reduction, the research on the basic theory and practical applications of superhydrophobic surfaces is increasing. In this paper, the characteristics of superhydrophobic surfaces and the preparation methods of superhydrophobic surfaces are briefly reviewed. The mechanisms of drag reduction on superhydrophobic surfaces and the effects of parameters such as flow rate, fluid viscosity, wettability, and surface morphology on drag reduction are discussed, as well as the applications of superhydrophobic surfaces in boiling heat transfer and condensation heat transfer. Finally, the limitations of adapting superhydrophobic surfaces to industrial applications are discussed. The possibility of applying superhydrophobic surfaces to highly viscous fluids for heat transfer to reduce flow resistance and improve heat transfer efficiency is introduced as a topic for further research in the future.