Closed-loop supply chain (CLSC) is an important paradigm for sustainable supply chain management. This paper systematically reviews domestic and international literature to summarize the evolution of this field from linear supply chains to the circular economy transition. The study identifies three major trends in CLSC research: a shift from single-link optimization to whole-chain collaborative governance; an evolution from cost-orientation to value co-creation; and a move from deterministic modeling to robust optimization and intelligent decision-making. This paper further analyzes typical cases including new energy vehicle power battery recycling, electronic product remanufacturing, and apparel reverse logistics to reveal the application mechanisms and practical values of CLSC in different industrial contexts. The results show that the effective operation of CLSC requires systematic governance supported by government policies, enterprise strategic coordination, technological innovation, and consumer participation. Future research should focus on cutting-edge topics such as artificial intelligence-enabled intelligent decision-making and supply chain resilience mechanisms.