I-III-VI type QDs have unique optoelectronic properties such as low toxicity, tunable bandgaps, large Stokes shifts and a long photoluminescence lifetime, and their emission range can be continuously tuned in the visible to near-infrared light region by changing their chemical composition. Moreover, they can avoid the use of heavy metal elements such as Cd, Hg and Pb and highly toxic anions, i.e., Se, Te, P and As. These advantages make them promising candidates to replace traditional binary QDs in applications such as light-emitting diodes, solar cells, photodetectors, bioimaging fields, etc. Compared with binary QDs, multiple QDs contain many different types of metal ions. Therefore, the problem of different reaction rates between the metal ions arises, causing more defects inside the crystal and poor fluorescence properties of QDs, which can be effectively improved by doping metal ions (Zn 2+ , Mn 2+ and Cu + ) or surface coating. In this review, the luminous mechanism of I-III-VI type QDs based on their structure and composition is introduced. Meanwhile, we focus on the various synthesis methods and improvement strategies like metal ion doping and surface coating from recent years. The primary applications in the field of optoelectronics are also summarized. Finally, a perspective on the challenges and future perspectives of I-III-VI type QDs is proposed as well.