How to enhance room-temperature plasticity and toughness have been obstacles for advanced functional structural applications of bulk amorphous alloy. Understanding of the plastic deformation mechanism under loading at room temperature is a precondition for plasticity and toughness improvements. Formation and propagation of highly localized shear bands produce the plastic deformation of bulk amorphous alloy. And to increase the room temperature plasticity depends on how to make the uniform distribution of the shear band. A thorough and detailed research in the field have been done and obtained different methods for plasticity and toughness improvements, such as shot peening, high Poisson’s ratio of amorphous alloy system design, as cast phase-separated amorphous alloy system with microstructural fluctuation, introduction of crystalline phase, and so on. In this paper, the research hot spot, the plastic toughness criterion, the method of finding the formation and expansion of the block amorphous alloys are reviewed from six aspects, that is, the second phase toughened amorphous matrix composites, Poisson’s ratio criterion, size effect, surface modifications, preforming multiple shear bands improves preform plasticity, and thermal cycling induced rejuvenation, etc. The paper also points out that to obtain excellent tensile ductility and fracture toughness, is the research object and important development direction of different amorphous alloy systems, and promotes the application and industrialization of bulk amorphous alloy as a new type of functional structural material.