The short-lived African killifish (Nothobranchius furzeri), mainly distributed in southeastern Africa, is currently the shortest-lived vertebrate that can be bred in the laboratory. With its extremely short life cycle (4~6 months), rapid growth and sexual maturation (30~45 days), spontaneous embryonic diapause, efficient genetic manipulation tools, and low husbandry costs, the short-lived African killifish provides a unique and powerful platform for investigating aging, organ regeneration, diapause, and neurodegeneration, outperforming traditional model systems in these cutting-edge areas. This review systematically summarizes the biological features of the short-lived African killifish, highlights its unique strengths as a new model organism, outlines recent advances in its multidisciplinary applications, and finally discusses future research directions, aiming to provide a reference for further exploration of its value as a novel model organism.