Megakaryocytic-erythroid progenitors (MEP) are a special group of hematopoietic progenitors in the bone marrow that can differentiate into megakaryocyte progenitors and erythroid progenitors, which are of great significance for the generation of platelets and red blood cells. However, the characteristics and identification strategy of MEP are controversial. Recently, with the application of single-cell sequencing technology and more accurate sorting strategy, the identification and characteristics of MEP have been more precise and clear, especially the study of their differentiation and regulatory mechanisms, which would be significantly important for the understanding and exploring study of abnormal hematopoietic mechanisms in some diseases. This article intends to review the research advances in cell differentiation and fate decision of MEP.