Peat have been recognized as one of being promising geological archive for providing valuable information on the reconstruction of Holocene climate change and thereby being especially potential for isotopic geochemistry studies. The recent review presented that the indications of peat cellulose carbon and oxygen isotopes remain unproven due to lack of modern analogue in Chinese peatlands. This study made a comprehensive review not only about the modern analogues in carbon and oxygen isotopes but also their application in the paleoclimate inferred from domestic and international studies. Two aspects were exhibited including the selected materials in paleoclimatic studies and the progress in indications of cellulose carbon and oxygen isotopes among peat vascular and non-vascular plants. Furthermore, the existed questions were analyzed. Combined with the studied process of stable isotopes in Chinese peatlands, this study would provide related valuable guidance for subsequent work in Chinese peatlands.