Vanadium dioxide (VO2) nanoparticles are of various crystal structures, but the monoclinic semiconductor M phase (VO2(M)) has a completely reversible phase transition property near room temperature. During the phase transition process, VO2(M) turns into tetragonal rutile metal R phase VO2(R), which causes a drastic change in optical properties, making VO2(M) a great application valuable in the field of temperature-controlled packaging film. The research progress of VO2(M) temperature-controlled packaging film is mainly introduced with the preparation methods of VO2(M) nanoparticles and temperature-controlled packaging film. Among them, one-step hydrothermal method and thermal decomposition method are two typical traditional preparation methods. In recent years, novel preparation methods have also emerged, such as seed crystal induction method and flame combustion method. The main preparation methods of temperature-controlled packaging film are gas-phase method and liquid-phase method. According to temperature requirements of different products, the corresponding VO2(M) temperature-controlled packaging film is prepared by changing the raw materials, temperature and phase transition process temperature of VO2(M) nanoparticles modified by process parameters of doped alloy elements. As a kind of high-tech product, VO2(M) temperature-controlled packaging film can effectively control the storage temperature in the process of transportation and sales of commodities, which has a broad application prospect.