The vehicular ad hoc network (VANET) has been widely used as an application of mobile ad hoc networking in the automotive industry. However, in the 5G/B5G era, the Internet of Things as a cutting-edge technology is gradually transforming the current Internet into a fully integrated future Internet. At the same time, it will promote the existing research fields to develop in new directions, such as smart home, smart community, smart health, and intelligent transportation. The VANET needs to accelerate the pace of technological transformation when it has to meet the application requirements of intelligent transportation systems, vehicle automatic control, and intelligent road information service. Based on this context, the Internet of Vehicles (IoV) has come into being, which aims to realize the information exchange between the vehicle and all entities that may be related to it. IoV's goals are to reduce accidents, ease traffic congestion, and provide other information services. At present, IoV has attracted much attention from academia and industry. In order to provide assistance to relevant research, this article designs a new network architecture for the future network with greater data throughput, lower latency, higher security, and massive connectivity. Furthermore, this article explores a comprehensive literature review of the basic information of IoV, including basic VANET technology, several network architectures, and typical application of IoV.