The large consumption of non-renewable fossil fuels has brought about energy depletion and environmental pollution, spawning the production of renewable biofuels, an important alternative to alleviate the energy crisis effectively. As one of the ideal types of biofuel, bioethanol synthesis in Saccharomyces cerevisiae has attracted much attention. S. cerevisiae has been developed as essential chassis cells with high efficiency for bioethanol synthesis on account of many advantages. This study systematically summarized the preponderance of S. cerevisiae in biosynthesis. It objectively stated the research strategies of bioethanol synthesis based on S. cerevisiae and the existing bottleneck problems. This study further proposed reasonable prospects for bioethanol synthesis by S. cerevisiae, attempting to provide alternative research strategies.