Abstract: The directed conversion of CO₂ into chemicals through hydrogenation is a core technology that connects the clean coal industry with the carbon cycle system and achieves the “dual carbon” goals. This paper systematically reviews the research progress on the hydrogenation of CO₂ to prepare methanol, formic acid, multi-carbon （C₂₊） alcohols, low-carbon olefins, aromatics and aviation kerosene, focusing on the core paradigms of reaction pathways （methanol-mediated pathway, Fischer-Tropsch synthesis pathway and direct conversion pathway） and the innovation of catalyst systems. The catalyst system shows a multi-type coordinated development feature, covering single-function catalysts such as copper-based, indium-based, precious metal, solid solution, and bimetallic, as well as multi-function systems such as metal oxide-molecular sieve composites and tandem catalysis. Through the regulation of active components, the addition of additives, the functionalization of carriers, and structural optimization （such as single-atom and core-shell structures）, achieve precise matching of the characteristics of active sites and structure-activity relationships, and promote continuous breakthroughs in catalytic performance. This paper conducts an in-depth analysis of the active site characteristics, structure-activity relationships, and catalytic mechanisms of different catalytic systems. It focuses on discussing core bottleneck issues such as the coordinated regulation of conversion rate and selectivity, the improvement of catalyst stability, industrial cost control, and the compatibility of coal-based facilities. It also looks forward to the precise design of high-efficiency catalysts, the targeted optimization of reaction pathways, and the prospects for large-scale application. It provides theoretical references and technical support for the integrated innovation of CO₂ hydrogenation technology and the clean coal industry.