The preparation of high-value-added platform compounds from biomass materials provides an important method for solving fossil energy shortages. Known as the “sleeping giant”, 5-HMF is one of the most important biomass platform compounds with promising applications. At present, raw materials for the preparation of 5-HMF mainly comprise sugar compounds and non-food biomass. The current systems for preparing 5-HMF are disadvantaged by poor selectivity and a low conversion rate. This paper focuses on the catalytic mechanisms and catalytic systems for the synthesis of 5-HMF from different biomass feedstocks and reviews a series of existing techniques for the preparation of 5-HMF. Catalytic systems for the synthesis of 5-HMF from different feedstocks are also discussed in depth, providing theoretical support for its subsequent in-depth study. The development of efficient catalysts and catalytic systems for the conversion of polysaccharide raw materials into 5-HMF is anticipated.