<p>With high-grade limestone reserves gradually being depleted and global sustainable development strategies being implemented more widely, the efficient utilization and high-value-added transformation of low-grade limestones has become a research hotspot in the field of mineral resources and materials science. This paper proffers a thoroughgoing review of the chemical composition, mineralogical properties and crystal structure characteristics of low-grade limestones, with particular emphasis on their physical and chemical properties. The status of high-value-added applications of low-grade limestones in construction materials, metallurgical auxiliaries and environmentally friendly materials is further discussed. By analyzing the significant differences in chemical composition and physicochemical properties in the current utilization of low-grade limestones, the direction of future research is focused on, including the construction of an interdisciplinary synergistic innovation system, the employment of advanced preparation methods, the development of novel composite material preparation technologies, the formulation of a comprehensive resource information base and the establishment of industry standards. This review aims to provide theoretical guidance and technological pathways for the sustainable development and utilization of low-grade limestone resources.</p>