Magnesium and magnesium-based alloys are widely used in the transportation, aerospace and military industries because they are lightweight, have good specific strength, a high specific damping capacity, excellent electromagnetic shielding properties and controllable degradation. However, traditional as-cast magnesium alloys have many defects. Their mechanical and corrosion properties cause difficulties in meeting application requirements. Therefore, extrusion processes are often used to eliminate the structural defects of magnesium alloys, and to improve strength and toughness synergy as well as corrosion resistance. This paper comprehensively summarizes the characteristics of extrusion processes, elaborates on the evolution law of microstructure, discusses DRX nucleation, texture weakening and abnormal texture behavior, discusses the influence of extrusion parameters on alloy properties, and systematically analyzes the properties of extruded magnesium alloys. The strengthening mechanism is comprehensively summarized, the non-basal plane slip, texture weakening and randomization laws are comprehensively summarized, and the future research direction of high-performance extruded magnesium alloys is prospected.