Bio-based polyethylene terephthalate (PEF) was prepared by replacing petroleum based monomer TPA with bio-based aromatic monomer 2,5-furan dicarboxylic acid, which is the most attractive substitute for petroleum-based polyethylene terephthalate(PET). The tensile strength and Young""s modulus of the fibers prepared from PEF are higher than those of PET, but its crystallization rate and toughness are much lower than those of PET, which limits its industrial applications in textile field. In this paper, several methods of PEF modification were introduced, including the molecular structure designing by copolymerizing flexible chain segments, binary acids or diols with symmetrical rigid structure and melt blending with flexible main chain polymers to improve the toughness of PEF, and adding inorganic or organic nucleating agents to improve the crystallization properties of PEF. The current situations of PEF spinning technology were also summarized.