Abstract: Multiple myeloma remains an incurable hematological malignancy. In recent years, the application of many agents has improved the survival and life quality of patients. However, the disease will eventually progress into relapsed/refractory multiple myeloma. Hence, the basic research and clinical application of novel agents have become essential. This article evaluates data from treatment studies for relapsed/refractory multiple myeloma and lists current treatment advances. Furthermore, multiple myeloma is closely related to genomic abnormalities, immune normalization, and protein homeostasis. Targeting these aspects will further guide the development of precise treatment.