Multifunctional Energetic Structural Material (MESM) is a new type of functional material with comprehensive utilization of chemical and kinetic energy. The development of MESM and its application were introduced. The experimental techniques of MESM under shock load, reaction mechanism, and theoretical model were reviewed. The application of shock-induced chemical reactions (SICR) model and empirical molecular dynamic methods which were use to describe the reaction process of MESM were introduced. The current application and the prospects of MESM were reviewed.