There is increasing interest in vanadium redox flow batteries (VRFBs) for large scale-energy storage systems. Vanadium electrolytes which function as both the electrolyte and active material are highly important in terms of cost and performance. Although vanadium electrolyte technologies have notably evolved during the last few decades, they should be improved further towards higher vanadium solubility, stability and electrochemical performance for the design of energy-dense, reliable and cost-effective VRFBs. This timely review summarizes the vanadium electrolyte technologies including their synthesis, electrochemical performances, thermal stabilities, and spectroscopic characterizations and highlights the current issues in VRFB electrolyte development. The challenges that must be confronted to further develop vanadium electrolytes may stimulate more researchers to push them forward.