Photoelectric conversion of surface plasmon-induced hot electrons has recently attracted considerable attention as it shows great potential in applications such as highly efficient photodetection, solar cells, and catalytic reactions. The quick transfer and collection of plasmon-induced hot electrons can effectively avoid energy loss caused by relaxation, recombination, and trapping, thereby improving the efficiency and speed of photoelectric conversion. More importantly, plasmon-induced hot electron transfer contributes towards a photoresponse that is beyond the bandgap limit of semiconductors, providing an effective approach for infrared photodetection. In addition to noble metals, heavily doped semiconductors have attracted significant attention owing to their tunable localized surface plasmon resonance in the infrared region of the electromagnetic spectrum. This review focuses on the fundamental mechanism of the excitation and transfer of plasmon-induced hot electrons and the research progress of infrared photodetection based on hot-electron transfer. Furthermore, the current problems and challenges in this field are discussed in order to provide guidance for the design of high-performance devices based on plasmon-induced hot-electron transfer.