Quantum coherence and quantum correlations are of fundamental and practical significance for the development of quantum mechanics.They are also cornerstones of quantum computation and quantum communication theory. Searching physically meaningful and mathematically rigorous quantifiers of them are long-standing concerns of the community of quantum information science, and various faithful measures have been introduced so far. We review in this paper the measures of discordlike quantum correlations for bipartite and multipartite systems, the measures of quantum coherence for any single quantum system, and their relationship in different settings. Our aim is to provide a full review about the resource theory of quantum coherence, including its application in many-body systems, and the discordlike quantum correlations which were defined based on the various distance measures of states. We discuss the interrelations between quantum coherence and quantum correlations established in an operational way, and the fundamental characteristics of quantum coherence such as their complementarity under different basis sets, their duality with path information of an interference experiment, their distillation and dilution under different operations, and some new viewpoints of the superiority of the quantum algorithms from the perspective of quantum coherence. Additionally, we review properties of geometric quantum correlations and quantum coherence under noisy quantum channels. Finally, the main progresses for the study of quantum correlations and quantum coherence in the relativistic settings are reviewed. All these results provide an overview for the conceptual implications and basic connections of quantum coherence, quantum correlations, and their potential applications in various related subjects of physics.

82 pages, 8 figures; Final version to be published in Physics Reports