Iron disilicide(β-FeSi2) is a promising material due to its advantages of abundant raw materials and environmentallyfriend. This paper introduces the luminescent mechanism of β-FeSi2, and discusses several kinds of preparing methods forβ-FeSi2 thin films. Then, the development and research achievements of β-FeSi2 thin films are described in detail. On the basis of achievements above and experiences by authors, it emphasizes that the good crystallized quality and the fewest possible crystal defect are the fundament for high effective luminescence, so that it is necessary for β-FeSi2 films to explore new preparing methods and to improve traditional growth technologies. Furthermore, doping new elements appropriately into the β-FeSi2 thin films and exciting p-i-n structures effectively for β-FeSi2 thin films will be the research focuses further. Finally, this paper reviews the general developing trends and prospects for β-FeSi2 thin films.