Psychological ownership (PO) is a new academic concept derived from Employee Stock Ownership Plan (ESOP), and provides a new perspective for studying the ownership behavior of employees with less ownership or without ownership. The authors review the literature of psychological ownership，examine the recent theory and empirical studies in this field from three aspects: the development of concept, the routes to PO and main antecedents of PO and the consequences of PO, and sum up the main transfer of research focus on PO: from individual experience to social interaction, from main effect to complicated moderating effect, from western hierarchical organization to different cultural and organizational context. On the basis of the review, the paper proposes the promising research direction in the future.