<p>Full waveform inversion (FWI) is a seismic imaging method with a unified mathematical framework based on wave equation constraints. The FWI method can be used to generate a variety of high-resolution seismic parameter models (e.g., velocity, anisotropy, viscoelasticity, and attenuation), which can facilitate an in-depth understanding of important scientific problems such as the Earth’s interior structure and material composition, earthquake preparation and occurrence, and plate motion and dynamic processes. With the development and cross-integration of disciplines such as geophysics, applied mathematics, and computer science, FWI imaging theories and methods not only play a crucial role in revealing the Earth’s interior structure, dynamic evolution, and earthquake mechanisms but also show a wide range of application potential in fields such as resource exploration, medical imaging, engineering inspection, carbon dioxide geological sequestration, and earthquake disaster prediction. In this paper, we provide a comprehensive review and analysis of the development of the FWI method, addressing its current challenges, identifying key issues, future directions, and potential research areas in the theory, methodology, and application of high-resolution FWI imaging. We also offer new insights and perspectives to promote advancements of high-resolution FWI research and applications in Earth sciences and other related fields.</p>