Abstract: Gas hydrate, which occurs widely in marine sediments and permafrost areas, is a kind of potential energy resources. To extract natural gas from gas hydrate using CO₂ replacement method can not only produce natural gas from the gas hydrate deposits, but also store CO₂ underground in the form of hydrate at the same time. In this paper, we presented a review on the current research status using CO₂ replacement method for exploitation of methane hydrate, including the feasibility, microscopic mechanism and influence factors. The problems and shortages of current research are discussed and some prospects and recommendations are provided for future researches.