This paper reviewed the applications of supercritical fluid in the preparation of polystyrene (PS). PS fraction having relative narrow molecular distribution could be acquired conveniently through supercritical fluid fractionation, which was implemented by controlling solubility via adjustment of temperature and pressure. PS particulates with high purity and even particle size distribution could be prepared continuously and steadily with utilizing supercritical fluid. Nano-PS particles possessing proper morphology and narrow particle size distribution were manufactured by means of the technology of rapid dilation supercritical fluid solution. Microcellular PS foam composites prepared with supercritical fluid exhibited high mechanical strength and high ratio of performance to price. Devolatilization of PS with supercritical fluid had the advantage of low energy loss and high efficient mass transfer while avoided the degradation of the polymer. PS composites prepared with supercritical fluid already became the hot spot in the studies attracted extensive attentions.