Microwave-induced thermoacoustic imaging (TAI) is a noninvasive modality based on the differences in microwave absorption of various biological tissues. TAI has been extensively researched in recent years, and several studies have revealed that TAI possesses advantages such as high resolution, high contrast, high imaging depth and fast imaging speed. In this paper, we reviewed the development of the TAI technique, its excitation source, data acquisition system and biomedical applications. It is believed that TAI has great potential applications in biomedical research and clinical study.