Sawing is a commonly utilized undercutting process for machining in the steel and forging industries. With the continuous improvement of modern processing requirements and increasing demands for higher sawing efficiency, accuracy, and surface quality of workpieces, bi-metal band saw blades are facing greater challenges. In addition, the development of new and difficult-to-cut materials such as nickel-based alloys, titanium alloys, and other heterogeneous alloys has presented novel challenges to band sawing technology. However, the wear of the band saw blade has become a major hindrance to the application and development of sawing processing technology for new materials, high efficiency, high precision, etc. Based on the principle of metal cutting using a band saw blade and considering the wear process of teeth, this paper provides a comprehensive analysis of the impact of cutting parameters, cutting fluid, heat treatment, and surface treatment technology on tooth wear. Additionally, measures to enhance wear resistance are summarized. Furthermore, an overview is presented regarding the latest advancements in monitoring wear for bi-metal band saw blades. Finally, the future direction of research on wear in bi-metal band saw blades is anticipated.