One of the main directions of material and physical sciences in the 21st century is the development and application of new materials. As a new type of two-dimensional material, the preparation and non-linear optical properties of black phosphene have attracted extensive interests of materials researchers because of its unique characteristics such as tunable direct bandgap and broadband nonlinear optical absorption. First, several preparation methods of black phosphene were introduced, including high-pressure method, bismuth-flux route, high-energy mechanical milling technique, lowpressure mineralization method and thermal-vaporization transformation method, and the advantages and disadvantages of each method were analyzed. Second, the research progress of nonlinear optical properties of black phosphorous nanocrystals and quantum dots, and their applications in the mode-locked lasers were introduced. Finally, the preparation methods and the wide application prospects of the nonlinear optical properties were summarized and prospected.