Generalized thermodynamic optimization theory is one of the research hotspots in the field of thermal science and technology. Firstly, the emergences and developments of finite time thermodynamics, entropy generation minimization, entransy theory and generalized thermodynamic optimization are reviewed in this paper, respectively. Besides, the physical connotations of the above thermal optimization theories are analyzed in detail, and their similarities and differences are also indicated. Secondly, the research progress of the generalized thermodynamic optimization theory is introduced from the aspects of dynamic optimizations of several irreversible processes including heat-transfer, mass-transfer process, capacitor charging circuit, and economical trade processes. The similarities and differences between the entropy generation minimization theory and the entransy theory in the optimization of heat and mass transfer processes are compared in detail. Finally, in addition to the expansion of the research subjects and the refinement of the research contents, the pursuit of the universal of the physical models, the unity of the optimization methods and the generalization of the optimization results is another important development trend of the generalized thermodynamicoptimization theory.