Infant formula milk powder is very important for infants whose mother cannot or does not want to breastfeed. There is a growing need for infant formula milk powder market in China, however, the research of basic nutrition and process technology is relative backwardness. The domestic and abroad research progresses about nutrition of infant formula milk powder were introduced by analyzing the breast milk nutrient profile, standard of formula and the development of powder composition. By comparing the dry process and wet process with their effects on powder functionality, the progresses on the process technology of infant formula milk powder were discussed. The hazard analysis was also discussed to better control the quality of infant formula milk powder. A general overview of the selection of formula composition, process technology and the direction of industrial development was provided. Strengthening the basic research on breast milk nutrition, improving the differentiation among products and developing the infant formula which was mostly close to the Chinese breast milk were the key to the future development of China’s infant milk powder.