Abstract: The treatment for patients of multiple myeloma (MM) has significantly improved over the past 20 years. With the introduction of immunomodulatory drugs (IMiDS) and proteasome inhibitors (PIs), the response rate and survival of patients with MM have remarkably increased. Currently, IMiDS, PIs, and autologous stem cell transplantation (ASCT) have become the cornerstone of MM treatment. However, numerous new treatments, such as the next generation of IMiDS and PIs, antibody drugs and their derivatives, smallmolecule-targeted therapy drugs, chimeric antigen receptor T-cell immunotherapy (CAR-T), and other cell therapies, are emerging. These treatments have shown promising prospects in treating MM. In this study, we aim to review the development and application of these highly appealing new drugs and therapies for MM.