Calcium aluminate cement is one of hydraulic binders with the superior performance. The metastable hydrates of calcium aluminate cement are inevitable to transform into stable ones under the action of time and temperature. The volume shrinkage occurs in the process of transformation, leading to the increase of porosity and the decrease of strength and durability of the material that can restrict the application of calcium aluminate cement. As is known, the formation and conversion of hydrates are closely related to temperature. This review introduced the conversion mechanism of hydrates of calcium aluminate cement, and represented the research progress on regulating phase composition of calcium aluminate cement hydration products via mixing micron-sized powder or nano-sized particles, adding chemical additives and adjusting curing conditions. In addition, some issues regarding the further studies were also put forward.