This paper systematically presents the current situation and prospects of basic and applied research of electrohydraulic effect. From the angle of basic research

the initial mechanism

development process

and shock wave formation of liquid discharge are introduced

respectively. The key points and difficulties of future research

such as the transient process of important parameters in the process of discharge initiation and development

are put forward in the aspects of modelling and experimental methods. From the angle of applied research

the current technology situation and application status in two scenarios: ocean and land of sparker source

which is the most widely applied technology of liquid discharge

are introduced in detail. Meanwhile

the development trend of deep water sparker source and controllable output of shock wave are discussed briefly in the application fields such as deep ocean resource investigation and underwater acoustic research.