As one of the most important components of the vanadium redox flow battery (VRFB), the electrolyte can impose a significant impact on cell properties, performance and capital cost. In particular, the electrolyte composition will influence energy density, operating temperature range and the practical applications of the VRFB. Various approaches to increase the energy density and operating temperature range have been proposed. The presence of electrolyte impurities, or the addition of a small amount of other chemical species into the vanadium solution can alter the stability of the electrolyte and influence cell performance, operating temperature range, energy density, electrochemical kinetics and cost effectiveness. This review provides a detailed overview of research on electrolyte additives including stabilizing agents, immobilizing agents, kinetic enhancers, as well as electrolyte impurities and chemical reductants that can be used for different purposes in the VRFBs.