Due to the excellent performance and low cost of the new aluminum-doped zinc oxide (AZO) film, it is expected to replace the mature indium-doped tin oxide (ITO) film. The research status and progress of AZO transparent conductive films are summarized in this review. Moreover, the structure, optoelectronic properties, and conductive mechanism of AZO thin films are also detailed. The thin films’ main preparation processes and the advantages and disadvantages of each process method are mainly discussed, and their application fields are expounded. AZO thin films with multicomponent composite structures are one of the promising development directions in transparent conductive oxide (TCO) thin films. The development of various preparation processes has promoted the production and application of thin films on a broad scale. Finally, some improvement schemes have been proposed to improve the comprehensive performance of the film. The industrialization prospects of the AZO film, as well as its great development potential in the digital world, are discussed.