The drilling and blasting method remains fundamental to mining and tunneling projects, prized for its simplicity and economy. However, conventional techniques are increasingly challenged by modern safety and environmental standards, particularly in complex geological settings. Slotted charge blasting technology addresses these limitations by offering exceptional control over fracture propagation and damage. This paper provides a comprehensive review of the field, synthesizing global research on its theoretical foundations, advanced diagnostic methodologies, key performance parameters, and engineering applications. We critically analyze the current challenges facing the technology, particularly in weak rock conditions, where extensive plastic deformation and rapid energy dissipation often compromise directional control, and identify promising trends for its future development. Specifically, the integration of intelligent adaptive control and additive manufacturing is highlighted as a key direction. By mapping out a clear trajectory for future research, this work provides a scientific basis to advance the efficacy and safety of slotted charge blasting in demanding engineering environments.