Borates have long been recognized as a very important family of nonlinear optical (NLO) crystals, and have been widely used in the laser frequency-converting technology in ultraviolet (UV) and deep-ultraviolet (DUV) regions. In this work, the borate-based UV and DUV NLO crystals discovered in the recent decade are reviewed, and the structure–property relationship in the representative borate-based UV and DUV NLO crystals is analyzed. It is concluded that the optical properties of these crystals can be well explained directly from the types and spatial arrangements of B-O groups. The deduced mechanism understanding has significant implications for the exploration and design of new borate-based crystals with excellent UV and DUV NLO performance.