To understand the deformation and failure mechanism of fractured rock masses under hydromechanical coupling and correctly evaluate the safety and stability of rock mass engineering, the research progress and results of the studies of deformation and failure of intact and fractured rock masses under hydromechanical coupling were systematically reviewed by collecting and collating literatures at home and abroad. The mechanical characteristics of intact and fractured rock masses under hydromechanical coupling were briefly described. The seepage laws of single fractured rock masses under hydromechanical coupling were summarized, including the mathematical formulas of the relations between flow and gap width index n, permeability (water conductivity) coefficient and normal stress, and permeability characteristics and shear stress. The latest research progress of deformation and failure mechanism under hydromechanical coupling was mainly analyzed, and the applications of advanced auxiliary test technologies such as acoustic emission (AE), ultrasonic testing (UT), polarizing microscope (PM), scanning electron microscope (SEM), and computed tomography (CT) scanning system in deformation and failure analysis were introduced. The advantages and disadvantages of the coupled seepage-stress model of fractured rock mass, the numerical analysis method, and the applicable conditions were summarized. Finally, limitations in the current studies of fractured rock masses under hydromechanical coupling were pointed out, and suggestions were put forward. The future development trend was discussed from several aspects, that is, the mechanism research changes from macro and meso to micro, the numerical simulation changes from rough to fine, and the engineering application changes from hydromechanical coupling to multi-field coupling.