Abstract: Hematite occupies a critical position in China’s iron ore resources, and flotation has become the dominant method for its separation and purification due to the increasing exploitation of complex and refractory hematite ores. This paper provides a comprehensive review of advancements in hematite flotation technologies, including direct flotation, reverse flotation, nano−bubble flotation, and flocculation flotation, with a focus on the development of collectors and regulators. The study emphasizes the necessity of improving iron recovery and reducing impurities through innovative flotation processes and optimized reagent systems. Traditional direct and reverse flotation methods remain foundational, where direct flotation selectively floats hematite using anionic collectors, while reverse flotation targets gangue minerals with cationic collectors. Recent advancements highlight the emergence of nano−bubble flotation, which leverages the unique physicochemical properties of nanoscale bubbles to improve particle−bubble collision efficiency, thereby enhancing flotation kinetics. Flocculation flotation, another developing technique, employs polymeric flocculants to aggregate ultrafine hematite particles, addressing challenges in fine−particle recovery. Experimental studies of these methods have demonstrated their potential for processing complex ores, though mechanistic understanding remains incomplete. Significant progress has been made in collector research, particularly in the development of hybrid anionic−cationic collectors that exhibit synergistic effects. However, limitations persist, including high cost, environmental concerns, and inconsistent performance under varying water hardness conditions. Results indicate that nano−bubble flotation achieves higher hematite recovery rates compared to conventional methods, due to improved surface hydrophobicity and reduced particle entrainment. Flocculation flotation further improves recovery of sub−10 μm particles, which are typically lost in traditional processes. Despite these advancements, challenges such as reagent stability, energy consumption in nano−bubble generation, and scalability of flocculation systems require further investigation. In conclusion, the sustainable development of hematite beneficiation relies on the integration of novel flotation technologies and eco−friendly reagent formulations. Future research should prioritize the design of low−cost, biodegradable collectors and the elucidation of interfacial mechanisms in nano−bubble and flocculation systems. Additionally, adaptive process optimization, considering factors such as water quality and ore variability, will be essential for industrial application. This holistic approach will ensure efficient utilization of China’s hematite resources while addressing environmental and economic constraints.