Intelligent bearing is a bearing unit with self-perception, self-decision and self-regulation functions, and is the main development direction of the high-end bearings. The characteristics of smart bearings are analyzed, and the research progress and development trends of smart bearings are reviewed. It is concluded that the smart bearing technology is still in the primary stage, since the self-diagnosis and self-regulation functions are not mature. It is summarized that the key technologies of smart bearing include sensor technology, self-powered technology and wireless power supply technology, wireless signal transmission technology, intelligent assessment and diagnosis technology and intelligent control technology. Finally, the development trends of systematization, diversification of monitoring information and intellectualization of intelligent bearing are discussed.