Abstract: Polymer stabilized liquid crystals (PSLCs) can help stabilize a variety of microscopic liquid crystalline structures. Generally formed by polymerization in the liquid crystals (LCs), the polymer network can replicate the liquid crystalline order of the LCs. A rich selection of reactive monomers, of isotropic or anisotropic molecular shape, can be utilized for fabricating PSLCs. The presence of polymer networks can stabilize the disclination defects, broaden the temperature range of the LC phase, and improve the electro-optic properties of the devices. PSLCs present excellent performances in the applications such as display, sensing, temperature control, light modulator and smart windows. As a category of smart materials, PSLCs have demonstrated great potential for future smart life, therefore has attracted lots of attention in related research fields. This review introduces the PSLCs materials with different phases, including nematic, cholesteric, ferroelectric, blue phase, and other LC phases. The characteristics and optical performances of PSLCs are described in detail, with the function of polymer networks in different PSLCs specially emphasized and explained. The research progress of in the field is reviewed, and the opportunities and challenges faced by PSLCs materials are pointed out, aiming to promote the development and utilization of polymeric functional materials.