Accelerated life testing (ALT) is a crucial technique in engineering design, enabling the prediction of product lifespan through exposure to elevated stress levels. This method facilitates rapid failure induction, expediting the acquisition of reliability data crucial for real-life performance prediction through physical or empirical models. This paper traces the evolution of ALT from its inception to contemporary methodologies, emphasizing its role in practical applications. We review the historical development of ALT, highlighting key contributions from seminal works and influential researchers. The foundational principles and methodological advancements are outlined, addressing the challenges faced by the field today. We discuss ALT modeling and planning, as well as degradation modeling, providing a detailed analysis of influential research and classical concepts. This comprehensive review underscores ALT’s critical role in ensuring product durability and reliability in an increasingly complex technological landscape.