Sweetpotato [Ipomoea batatas (L.) Lam.], as a globally important food crop, holds significant value in ensuring food security, enhancing industrial productivity, and addressing environmental challenges through the innovation and utilization of its germplasm resources. However, current research and utilization of sweetpotato germplasm resources still face multiple challenges. Firstly, the collection and conservation of germplasm have not yet fully captured its genetic diversity, with risks of losing local varieties and wild relatives. Secondly, the evaluation system for germplasm remains incomplete, as traditional phenotypic characterization methods are inefficient and inadequate for large-scale breeding demands. Additionally, despite rapid advancements in molecular biology and genomics, their application in sweetpotato germplasm innovation is still in its infancy, requiring urgent efforts to identify and utilize key trait-related genes. This review systematically summarizes recent research progress in sweetpotato germplasm resources, focusing on three key aspects: (1) the diversity, collection, and conservation status of sweetpotato germplasm, including an analysis of the coverage and preservation strategies of existing germplasm repositories; (2) identification and evaluation systems and technologies for the germplasm resources, emphasizing integrated phenotypic-genotypic approaches for efficient identification; and (3) innovation and application of novel germplasm, highlighting advances in distant hybridization, molecular marker-assisted selection, and gene editing for breeding. By synthesizing current research advancements and existing limitations, this review aims to provide critical insights into the precise characterization and optimized utilization of sweetpotato germplasm resources.