The characterizing methods of molecular structure and crystal phase of adamantane including XRD,FT-IR,MS,NMR,EMS,DMS,RAMAN,DSC, etc were introduced in order to foretell adamantane chemistry and its application prospect in energetic materials. The phase transition behavior of adamantane at different temperature or pressure conditions was discussed as well. Finally,the thermodynamic properties and solubility of adamantane in various of organic solvents were reviewed respectively. The latest research progress of polynitroadamantanes and polynitroazaadamantanes in HEDM molecular design were also illustrated.