Abstract: Ecotourism is a type of ecological project and tourism activity which has attracted increasing attention from scholars because of rising interest in sustainable development in the world since the 1980s. This paper reviewed the progress and problems in ecotourism research over the past 40 years from concept, stakeholder, environmental impact, and management perspectives. It found that: 1) the concept of ecotourism was constantly developing with the socioeconomic environment and the ecotourism industry; their common characteristics include taking nature and associated humanistic ecosystems as the object, responsible tourism, and the dual attributes of ecological and economic benefits. 2) The stakeholders of ecotourism may be considered as core layer, close layer, or loose layer members. The conflicts between the demands of the different core layers, such as the government, tourism enterprises, tourists, and community residents, constituted the main issues for ecotourism. Researchers should try to resolve this conflict by exploring the appropriateness of relationships and mechanisms of profit allocation for stakeholders. 3) The effect of ecotourism on the environment caused damage and destruction on a small scale, while protecting the landscape on a large scale by providing support for wildlife, reducing the resource needs of local residents, and improving the public’s environmental awareness. 4) Ecotourism management was composed of scenic spot planning, tourist management, environmental education, and community participation. Some new technologies and concepts such as 3S technology, “Internet +” and Tourist Cognitive Management were gradually being applied in the development of the ecotourism management. On this basis, we put forward some suggestions for future research on ecotourism trends, combined with the practical needs of Chinese ecotourism in the new era. We hope that this study can provide a reference for the practice and research of ecotourism.