Diamond tools are widely used in the grinding and cutting of natural stone, ceramics, glass, concrete, hard alloys, etc. Metal bond diamond tools have become the main force of diamond tools due to their good mechanical and thermal properties. With the continuous emergence and ever-changing of new ceramic concrete and other processing objects, diamond tools are required to be continuously modified to improve cutting efficiency, slow down wear, and reduce manufacturing and use costs. This paper reviews the properties of synthetic diamond particles, the composition and basic properties of different types of metal binders, the interface state of diamond and metal matrix, and the measures to improve the bonding strength. The further prospects for the development of metal bond diamond tools are put forward.