Pyrazolin-5-one compounds play an important role in bioactive compounds and have attracted extensive attention. Pyrazolin-5-one and its common derivatives have many reaction sites and can participate in a variety of asymmetric reactions, such as asymmetric addition reactions, asymmetric annulation reactions and other asymmetric reactions. In this context, we summarize the recent progress in asymmetric reactions of pyrazolin-5-one and its common derivatives. The main reaction types involving the pyrazolin-5-one compounds are classified, and their main reaction sites are expounded. Finally, the challenges and development of pyrazolone derivatives are summarized, and the future development direction is prospected.