<p>As an environmentally friendly and efficient refrigeration method, magnetic refrigeration technology has always attracted the attention of researchers. In this paper, the research and development status of magnetic refrigeration technology and magnetic materials are discussed in depth, and the challenges faced by the technology are also evaluated. Firstly, the principle of magnetic refrigeration technology is introduced, and the research and development process and current development of room-temperature and low-temperature magnetic refrigeration systems are briefly described. Then, the simulation of magnetic refrigeration technology in the current era is discussed in detail, and the important role of calculation model in optimizing system design is emphasized. Secondly, this paper reviews the classification of magnetic refrigeration materials, including room-temperature magnetic refrigeration materials and low-temperature magnetic refrigeration materials, and further analyzes the current research process of magnetic refrigeration materials. Through the comparative analysis of different materials, find out the most suitable magnetocaloric materials. Finally, this paper not only summarizes the current situation of magnetic refrigeration technology, but also makes a prospect for the future development of magnetic refrigeration technology and magnetic materials. Through the in-depth elaboration and analysis of this review paper, it aims to provide theoretical and practical guidance for the further advancement of magnetic refrigeration and magnetic materials research.</p>