Large-scale underground energy storage technology uses underground spaces for renewable energy storage, conversion and usage. It forms the technological basis of achieving carbon peaking and carbon neutrality goals. In this work, the characteristics, key scientific problems and engineering challenges of five underground large-scale energy storage technologies are discussed and summarized, including underground oil and gas storage, compressed air storage, hydrogen storage, carbon storage, and pumped storage. This perspective provides valuable theoretical and technical guidance for the construction and development of large-scale underground energy storage, further promoting the utilization of renewable energy and the realization of the “double carbon target” in China.