Abstract: The biggest challenge that must be overcome in the promotion and application of nanoparticles in oil and gas fields development is to ensure the dispersion stability of nanoparticles under high-temperature and high-salinity formation conditions. This paper comprehensively reviewed the dispersion stability status, stability mechanism, and influencing factors of nanoparticles under high-temperature and high-salinity conditions. It has been found that the stability of conventional nanoparticles is extremely poor under high-temperature and high-salinity conditions, and even aging for 24 h will show different degrees of precipitation phenomenon. The dispersion stability of nanoparticles is mainly controlled by interfacial interactions between particle surfaces and dispersion liquid phases, as well as the attractive and repulsive forces between particles, and is mainly related to the properties of nanoparticles, the properties of the dispersed liquid phase, and the external environment and other factors. This paper investigates the improvement of existing particle modification methods, such as physical adsorption modification and chemical grafting modification, on the dispersion stability of nanoparticles under high-temperature and high-salinity conditions. Finally, it is pointed out that in order to promote the application of nanoparticles in oil and gas fields development, the influence mechanism of external environmental conditions on the dispersion stability of nanoparticles should be further investigated, the dispersion stability mechanism of nanoparticles under high-temperature and high-salinity conditions should be further improved, and new modifiers and modification methods for dispersion stability should be further developed.