In this review article, recent advances in the development of the direct borohydride fuel cell (DBFC) technology are reviewed. Based on the reported results, it is concluded that the BH4 − electro-oxidation is determined by the catalyst used and BH4 − concentration at the catalytic sites. Hydrogen evolution during the DBFC operation can be suppressed by: (1) using a composite catalyst or a hydrogen storage alloy as the anode catalyst via a quasi 8-electron reaction; (2) using metals with high hydrogen over-potential, such as Au and Ag as the anode catalyst via an intrinsic 8-electron reaction; and/or (3) modifying and optimizing fuel composition. The single cell and stack performance of DBFC is mainly influenced by the hydrogen evolution, the BH4 − cross-over, and the BH4 − tolerance of cathode catalyst. The development of non-platinum cathode catalysts and stacking technology is on the way. The reported results are encouraging but some problems still remain to be further investigated and solved.