Hydrogen has attracted much attention as a globally accepted clean energy carrier. Currently, the search of safe and efficient hydrogen storage materials is one of the most difficult challenges for the transformation to hydrogen powered society as a long-term solution for a secure energy future. Ammonia borane(NH₃BH₃, AB) has been considered to be a promising chemical hydrogen storage material due to its high hydrogen capacity(19.6 wt%), high volumetric hydrogen density(0.145 kgH₂/L), and remarkable advantages in hydrogen storage and dehydrogenation performance. Hydrogen stored in ammonia borane can be released via pyrolysis, methanolysis, and hydrolysis routes. Among them, hydrolysis of ammonia borane can be easily controlled and without CO produced(easy to poison the catalyst) in the presence of an appropriate catalyst under mild conditions, which seems to be the most safe, effective, and convenient route for hydrogen storage applications. In this review, the properties and synthesis of ammonia borane are briefly introduced. The mechanism of hydrogen production from ammonia borane is described. Meanwhile, the research progress in catalytic hydrolytic dehydrogenation of ammonia borane for chemical storage is significantly reviewed. Moreover, the promoting effect of alkali for this hydrolysis reaction is concisely analyzed and the recovery of hydrolysate is also discussed.