The production of high strength steel components with desired properties by hot stamping (also called press hardening) requires a profound knowledge and control of the forming procedures. In this way, the final part properties become predictable and adjustable on the basis of the different process parameters and their interaction. In addition to parameters of conventional cold forming, thermal and microstructural parameters complicate the description of mechanical phenomena during hot stamping, which are essential for the explanation of all physical phenomena of this forming method.In this article, the state of the art in the thermal, mechanical, microstructural, and technological fields of hot stamping are reviewed. The investigations of all process sequences, from heating of the blank to hot stamping and subsequent further processes, are described. The survey of existing works has revealed several gaps in the fields of forming-dependent phase transformation, continuous flow behavior during the whole process, correlation between mechanical and geometrical part properties, and industrial application of some advanced processes. The review aims at providing an insight into the forming procedure backgrounds and shows the great potential for further investigations and innovation in the field of hot sheet metal forming.