Agueous emulsifiable isocyanate adhesive is one of important adhesive researches for wood based composite. In this paper, the application research situation, the development trend and the major chemical reaction principles of aqueous emulsifiable isocyanate adhesive for wood based composite are introduced. The types of the adhesive include direct emulsif iable isocyanate, prepolymer adhesive based on polyurethane and water basde polymer-isocyanate adhesive.