Hydrological Simulation Program-Fortran (HSPF) is a comprehensively semi-distributed hydrological model and can simulate hydrological conditions and water quality accurately in watersheds. It has been extensively applied in the fields of water resources and environment. The article reviewed the model mechanism of hydrology,sediment erosion and migration of pollutants, and summarized the latest devolepments in the modeling of the runoff, the migration of pollutants,the influence of land use or land cover change and climate change on watersheds. Besides, the research directions of complete the model were discussed, including the migration mechanism of pollutant, the uncertainty of model parameters and the combination with other models.