Hip fractures are common traumatic injuries in the elderly and poses a serious public health problem. Preoperative anemia is prevalent in elderly hip fracture patient. Studies have shown that preoperative anemia is associated with postoperative infection and cardiovascular events in these patients and also impacts hospital stay, postoperative mortality, lower limb mobility, and ability of daily living. In this article, we reviewed the epidemiology of preoperative anemia in elderly hip fracture patients and recent research progress in its effects on complications and prognosis.