Aluminum/steel bimetallic structures show a good application prospect in lightweight vehicle manufacturing due to the low density of aluminum alloy and the high strength and low cost of steel. Nowadays, aluminum/steel components can be prepared easily and rapidly by welding and additive manufacturing techniques. However, there are some urgent problems such as the differences in physical properties between Al and steel, the formation of continuous Fe-Al intermetallic compounds, which decrease the mechanical properties of aluminum/steel interface of the components. The weldability of aluminum/steel dissimilar metals was discussed, as well as the development status of aluminum/steel dissimilar metal welding and the regulating and eliminating methods of Fe-Al intermetallic compounds. Moreover, the latest investigations on the arc additive manufacturing and laser additive manufacturing of aluminum/steel bimetallic components were also expounded. The similarities and differences between additive manufacturing and welding of aluminum/steel components were investigated. Finally, several suggestions for further research directions of aluminum/steel dissimilar metal welding and additive manufacturing were proposed.