Tumor immunotherapy is a major breakthrough in the history of tumor therapy. New immunooncological drugs targeting PD-1/PD-L1 and CAR-T cells have achieved gratifying clinical efficacy. However, due to the complexity and particularity of tumor immune microenvironment, it is difficult for a single target treatment mode to achieve a lasting response. Recurrence, metastasis and resistance are still difficult for most advanced cancer patients to overcome. Recently, PD-(L)1/TGF-β bispecific antibodies have become a hot spot in the research of tumor immunomodulatory drugs, which contains two functional domains and interacts with PD-(L)1 and TGF-β simultaneously to restore the activity of T cells and enhance the immune response. This paper mainly analyzes the clinical research progress of PD-(L)1/TGF-β bifunctional antibodies, which have been developing rapidly in recent years. We further analyze the existing problems and make an outlook on the prospect of dual-target tumor immunotherapy, in order to provide basis and reference for bifunctional or multifunctional drugs.