The solidification of ternary eutectic alloys involves competitive nucleation and cooperative growth of three solid phases in the same mother liquid phase, which generates plenty of microstructural morphologies. This is of importance for the methodological study of in situ composite material preparation as well as theoretical exploration of pattern formation phenomena. The microgravity effect and containerless state in space environment eliminates the convection and buoyancy induced by gravity, and avoids the heterogeneous nucleation originated from container walls, providing an ideal experimental condition for rapid solidification of metastable melts. This paper reviews the recent progress of ternary eutectic solidification research, performed with such ground simulation methods as glass fluxing, drop tube, and acoustic levitation. The prospective developing trends are also discussed.