Abstract: Medical isotopes are the substantial basis of the diagnostic and therapeutic nuclear medicine. There are irreplaceable advantages for utilizing the nuclear medical technology to diagnose and treat the malignant tumors, cardiovascular and cerebrovascular diseases, neurodegenerative diseases and other major diseases. Scandium-47 (⁴⁷Sc) is a novel medical isotope proposed in recent years, its moderate radiation energy and favorable coordination chemical properties make it easy to bind with biological targeting molecules to prepare drugs for cancer treatment. It can also form a diagnostic and therapeutic isotope pair with its isotopes ⁴⁴Sc and ⁴³Sc, making it a true theranostics isotope with broad application potential. This article reviews the irradiation preparation technology and separation extraction techniques of ⁴⁷Sc based on reactors or accelerators, briefly introduces the current status of research on ⁴⁷Sc-labeled drugs, and analyzes the development trends and application prospects of ⁴⁷Sc in the future.