Phytoplankton under the ice of seasonally ice-covered lakes is a key indicator species for maintaining the health of lake ecosystems. However, there is a lack of a unified definition of cold lakes internationally. In addition, there are few studies on the distribution, driving mechanism and simulation prediction of phytoplankton under the ice, which have limited the development of winter limnology and the prevention and control of spring algal blooms. The average temperature of the coldest month, the duration of the ice period and the average annual water temperature were the main indicators for defining cold lakes based on the literatures review. The cross-action of subglacial hydrodynamics and biogeochemistry during the ice period and freeze-thaw period is the key to promoting the phytoplankton growth. The migration and transformation of nutrients and the formation of hypoxic zones of subglacial were driven by physical factors such as available light and water temperature. Cyanobacteria got advantages in the ice period and above the water column through their own gas vesicles and strong adaptation to low temperature and low oxygen. Diatoms are able to multiply rapidly with the increasing of available light and the water temperature in spring. However, the migration and transformation of nutrients induced by physical factors during the freezing-freezing-thawing process, the role of microorganisms in biogeochemical reactions, and the extent and direction of the combined effects of multiple environmental factors on phytoplankton functional groups are still unclear. At present, lake algal blooms have gradually expanded to higher latitudes under the climate change. How to accurately predict the development and response mechanism of algal blooms in cold lakes under the climate change has become a key direction in the development of winter limnology. This review explains the unique physical and chemical processes of phytoplankton growth competition in cold lakes from the perspectives of bibliometrics, mechanism analysis, method construction and future prospects. These findings would provide new insights into the field of winter limnology and provide theoretical support for the future management of spring algal blooms in cold lakes.