Antarctic krill (Euphausia superba) is a key species in the Southern Ocean ecosystem, playing a crucial role in maintaining ecological balance and biodiversity, and is also an important polar fishing resource. Managing Antarctic krill resources is crucial for ensuring the health of global marine ecosystems and promoting the sustainable development of the fishing industry. A large number of krill resource surveys and assessments have been continuously conducted to accurately assess the spatiotemporal distribution of krill resources. The distribution and variability of Antarctic krill resources are closely related to environmental factors in the Southern Ocean. In the context of climate change, the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR), an intergovernmental organization, has also accelerated the development of new management mechanisms for the Antarctic krill fishery. This study summarizes the current assessment of Antarctic krill resources and fishery development. We concentrated on the research progress of the impact of major environmental factors on the temporal and spatial distribution of Antarctic krill resources and fishery, such as seawater temperature, sea ice, currents, water masses, fronts, food, and ultraviolet and visible light, and focused on elucidating the impact of physical environmental factors on the physiological functions of krill, early larval recruitment, resource transport and retention, and other key functions and processes. We found that fluctuations of the water temperature directly affect the physiological functions and distribution of krill, the cyclical changes in sea ice affect the survival of krill larvae and population recruitment, the structure of currents plays a key role in the transport and distribution of krill, changes in water masses and fronts also affect the retention and migration of krill populations, and seasonal changes in food concentration directly affect the reproductive capacity and growth rate of krill. In addition, other environmental factors such as ultraviolet radiation and light cycles also impact krill. This study provides an outlook for future research on the distribution of krill resources and the sustainable development of fisheries in the context of climate change. It offers references for subsequent research, such as the impact of environmental factors on the ecological habits of krill, the construction of circumpolar resource monitoring techniques, and the formulation of krill fishery management strategies.