Based on the up to date development of the ultrasonic machining(USM) technology. The research situation of the ultrasonic vibration system and latest applications of ultrasonic machining technology in deep hole machining, lapping and polishing of drawing die and mould cavity, machining of difficult-to-machine material, ultrasonic vibration cutting, ultrasonic combined machining were summarized. The development trends and future prospect of the ultrasonic machining technology were expounded.