Low-dimensional layered transition metal dichalcogenides (TMDs) have recently emerged as an important fundamental research material because of their unique structural, physical and chemical properties. These novel properties make these TMDs a suitable candidate in numerous potential applications. In this review, we briefly summarize the properties of low-dimensional TMDs, and then focus on the various methods used in their preparation. The use of TMDs in electronic devices, optoelectronic devices, electrocatalysts, biosystems, and hydrogen storage is also explored. The cutting-edge future development probabilities of these materials and numerous research challenges are also outlined in this review.