As current study emphases of zirconium alloys, Nb-contained zirconium alloys have excellent corrosion resistance, good mechanical properties and deformable properties. Recent research situation on Nb-contained zirconium alloys is summarized in the present paper, including the effects of chemical composition, deformation and heating treatment process on precipitation behavior of SPPs (second phase particles). Research progress of corrosion theory in zircaloy is also introduced, and lots of research problems are discussed. This paper can provide valuable references for microstructure control and corrosion resistance improvement in Nb-contained zirconium alloys.