The process of polymer synthesis and processing affects the degree of polymerization, crystallinity, orientation and the uniformity of blending components, which ultimately influences the performance of polymer products. Therefore, real-time monitoring of material properties is very important in the process of polymer synthesis and processing. Real-time measurement technology with Raman spectroscopy has been widely applied in the field of polymer synthesis and processing, since it features non-destructive testing, easy sampling and high reliability. It has no specific requirements for the sample’s thickness, shape and state, and it realizes the measurement in high temperature, high pressure and toxic environment directly. Real-time Raman spectroscopy can analyze material chemical composition and physical properties. It controls the process of polymer synthesis and processing to improve the performance of polymeric products. In this paper, the research progress in real-time measurement of polymerization conversion, polymer particle size and distribution, crystallinity, orientation, and components content in multiphase blend polymers with Raman spectroscopy is discussed. The application of real-time measurement technology with Raman spectroscopy has great potential.