With the continuous adjustment of global strategy, more and more attention has been paid to the divestment of transnational corporations. Although the research has made great progresses, the divestment of transnational corporations is still a neglected area of international business. In this paper, we review the progress of academic research, according to the concepts and the types, the motivations and the causes, the impacts and countermeasures of the divestment of transnational corporations. The divestment behavior needs multidisciplinary research on the micro-level, so as to construct a theoretical framework.