Mechanoluminescent (ML) materials have gained significant attention in recent years due to their promising applications in force sensing, biomedical diagnostics, structural health monitoring, anti-counterfeiting, lighting, and intelligent artificial skin. These materials are capable of emitting visible light in response to mechanical stimuli such as pressure, tension, or friction, making them ideal candidates for advanced sensing technologies. Their advantages include rapid response time, high durability, and excellent repeatability. This review explores the fundamental mechanisms behind ML emission, including trap-controlled processes, piezoelectric effects, triboelectric phenomena, and molecular packing structures. In addition, recent strategies to enhance ML performance, such as extending afterglow duration, adjusting emission color, increasing luminescence intensity, improving sensitivity, and enabling self-recovery, are discussed. The paper also addresses the development of near-infrared ML materials for expanded applications. Finally, it evaluates the future potential of ML materials in smart systems and outlines key challenges that need to be addressed for their widespread adoption.