Abstract: The analysis and assessment of vulnerability are the basis of elimination, preparedness, response and recovery to natural hazards, and now it has become an important research direction of natural hazards and sustainable development. Firstly, the basic structure, meaning and essence of natural hazards vulnerability were studied based on the review of the concept of natural hazards vulnerability from different research perspective. And then, the classical models and assessment methods were introduced, and their limitations were pointed out. Finally, the development prospects and research directions of vulnerability to natural hazards were discussed.. It was hoped that this research could provide some guidance and reference for the research, response and management of natural hazards.