<p>Laser peening offers a highly effective strategy for enhancing the surface mechanical properties of critical metallic components, facilitating high-strain-rate plastic deformation and the induction of deep residual compressive stress. This makes it an invaluable technique across industries such as aerospace, automotive, and nuclear engineering. With the rapid advancements in laser technology, femtosecond laser peening (FLP) has gained considerable attention over the past decade due to its unique effects and exceptional controllability, both of which are crucial for applications in extreme environments and micro-scale components. This paper presents a comprehensive review of the origins and recent developments of FLP, systematically examining its key characteristics, mechanical applications, technological advancements, challenges, and future prospects. By comparing FLP to conventional nanosecond laser shock peening, we highlight the distinct advantages of femtosecond lasers in the regulation of micro/nanostructures and in achieving high-precision surface reinforcement. In the context of these comparisons, we identify emerging challenges related to processing efficiency and peening depth, while also exploring the potential applications of FLP in high-performance metal manufacturing. This review aims to provide a thorough understanding of FLP and offer insights into its transformative potential for enhancing metallic materials in various high-tech industries.</p>