Abstract: The status of axillary lymph nodes is important for the staging, treatment, and prognosis of breast cancer. The arrival of the era of precision medicine highlights the importance of axillary lymph nodes status assessment. Magnetic resonance imaging, positron emission tomography/computed tomography, and new imaging examinations can be used in the assessment of axillary lymph nodes, in addition to routine examinations, such as physical examination and breast ultrasound. Sentinel lymph node biopsy is the most significant method for the assessment of axillary lymph nodes. Emerging evidence suggests that axillary lymph node dissection can be avoided in patients with negative or 1–2 positive sentinel lymph nodes. The ratio of inflammatory indicators may be a reliable predictor of lymph node metastases. Specific elder patients can have a good prognosis without axillary procedure. In this paper, we review and summarize the controversies surrounding the assessment methods and management of axillary lymph nodes. We hope to provide new perspectives for the axillary lymph node diagnosis and management of breast cancer patients under the concept of precision therapy.