Research in high-entropy alloys (HEAs) has emerged as a burgeoning field in the past few years. Due to their unique design approach involving multiple principal elements, HEAs have unique microstructures and impressive properties. Over the years, many HEA systems have been reported that combine excellent strength–ductility synergy, high hardness, thermal stability, resistance to fatigue, fracture, corrosion, oxidation, wear and irradiation. These properties portray HEAs as promising candidates for various applications. In the early stages of development, HEAs were initially designed with a more exploratory approach. However, in recent years, HEAs have been developed with clear goals, carefully selected components, and tailored microstructures. These HEAs of new generation are referred to as advanced HEAs. In this article, a brief review of the progress that has been made in advanced HEAs is presented.