Slurry ice is a new environmental-friendly refrigerant with great potential in the low-temperature preservation of aquatic products. It has multiple advantages including faster cooling rate, lower final cooling temperature, better embedding capacity, and causing less mechanical damage to the products than traditional ice. The application of slurry ice can effectively maintain the marketable appearance and physicochemical characteristics of the products, extending the shelf life. This review summarizes the preparation methods and characteristics of slurry ice. The focus is on the application of slurry ice in different stages of the distribution of aquatic product and the present status of slurry ice combined with other technologies. The limitations of the application of slurry ice are also analyzed. We hope that this review can provide a theoretical basis for further improving its commercial application in the cold chain of aquatic products.