Ultrahigh strength steels are highly competitive materials for vehicles to concurrently meet the increasing demand of the weight reduction and passenger safety. Hot stamping is the key forming technology to manufacture automobile components with high strength. Hot stamping steel and its manufacturing technology experienced a fast development in the past decade. This paper reviewed the state of the art of the manufacturing and applications of hot stamping steels/components in the following aspects: (1) hot stamping steels (from traditional MnB steels to recently newly developed hot stamping steels); (2) forming technologies (from traditional hot stamping process to industry 4.0 intelligent production); (3) novel hot stamping + quenching & partitioning (Q&P) process and fundamentals of deformation assisted heat treatments; (4) simulation techniques for hot stamping process (modeling of the temperature-stress field, microstructure field and simulation of the manufacturing process); (5) the assessments of in-service performance of hot stamped components. Finally, the trends of the development of hot stamping steels and related forming technologies in the future will be discussed.