Vanadium alloys are recognized as attractive candidate materials for the structural component of fusion reactors because of their low activation properties, high thermal stress factors, and radiation resistance. V-4Cr-4Ti has been regarded as the leading candidate composition. Recent Japanese, US, Russian, and Chinese fusion programs largely enhanced the fabrication technology of vanadium alloys. Also, fundamental understandings of the effects of interstitial impurities (C, N, O) on mechanical properties, radiation effects on microstructure and mechanical properties, and compatibility in various environments were advanced recently. The effects of neutron irradiation with transmutant helium on mechanical properties and irradiation/thermal creep performance are among the major remaining issues.