Progress in the field of discotic liquid crystals is briefly discussed. The liquid cr ystal phases exhibited by most discotic liquid crystalline molecules, according to the packing characteristic between the molecules, fall into two distinct categories: the more ordered columnar mesophase with specific order exists between individual columns, and the liquid-like nematic mesophase possessed only one dimensional order. This rev iew article described the structure properities of both low molar mass discotic liquid crystals and discotic liquid crystal polymers. The formation of the discotic liquid cry stalline mesophase is severely restricted by factors such as : proper number of flexible side chains attached to the main core, the suitable configuration of the main core and the branch on the flexible side chains. Their potential application in the field of optical compensat ion films for wild viewingangle liquid crystal displays, conducting materials , ionic conductor and organic LED are also discussed.