In recent years, the demand for sustainable materials has increased in line with reduced fossil resource availability and heightened environmental awareness, which has resulted in a growing interest in biobased polymers in the field of materials science and engineering. The present paper detailed the research progress on the structural design and molecular weight and its distribution by anionic polymerisation of two important terpene monomers, β-laurene and β-farnesene, from a wide range of sources. This research elucidated that anionic polymerisation of terpene monomers is highly advantageous in the preparation of bio-based polymers. Furthermore, the paper expounded on the kinetics of the terpene copolymerisation reaction with styrene and its derivative monomers, with the objective of preparing laurylene-based styrene butadiene rubbers that are suitable for sustainable high-performance tyres, characterized by a bottle-brush structure. The bottle-brush structure significantly improves the dispersion of fillers in rubber. The terpene polymers were functionalized by end-of-chain modification, mid-chain modification and copolymerization of functional monomers to improve their interaction with functional fillers. The paper finally pointed out that terpene polymers are currently facing problems such as limited monomer sources, insufficient material properties, and fewer application studies, and looked forward to the future direction and challenges faced by terpene polymers.