Abstract: Lead and zinc are important non−ferrous metals. However, with the large−scale development and utilization of lead−zinc mineral resources and the decrease in ore grade extracted, the massive stockpiling of lead−zinc tailings not only accumulated land but also poses risks of geological disasters and environmental pollution. This paper systematically reviews the physical and chemical properties of lead−zinc tailings, and then generally analyzes the geological disasters and environmental pollution, including pollution from heavy metals, flotation reagents and acidic water. Aimed at resource utilization technology route for reselection—material preparation—filling utilization, the current research advances in tailings valorization are summarized, including reselection of metallic values metal elements such as Pb, Zn, Fe and Mn, reselection of non−metallic minerals such as pyrite, fluorite, barite and sericite. They are used as a primary raw material in manufacturing construction materials such as glass−ceramics, geopolymers, foamed ceramics, cement, concrete, bricks, ceramsite, ZSM−5 zeolite, polyferric sulfate and fine calcium carbonate. They can also be used as backfill materials for underground mine voids. This article analyzes the research progress and existing problems in the resource utilization of lead−zinc tailings, and points out the research directions that should be focused on in the future for the comprehensive utilization of lead−zinc tailings. Additionally, research into low−cost, efficient process technology for recycling should be accelerated. The production of high−value products should be explored, and heavy metal and mineral processing agent pollution should be prevented. The focus of filling utilization should be on developing low−cost green filling technology. This paper serves as a reference for the utilization of lead−zinc tailings with low in pollution, high in value and in large quantities.