The wide and huge reservation of shale gas around the world has drastically altered the global energy and chemicals market, boosting the productions of hydrocarbons and their derivatives by providing massive light alkanes at low cost. Direct conversion of alkanes into the value-added chemicals remains energy-intensive and requires harsh reaction conditions due to its ultrahigh C H bond strength. Hence, the quest of alternative reaction pathway for alkane conversion into target product with high yield under mild conditions for a long-term operation emerges as the key technique of shale gas utilization. In this review, we summarize important progresses in the catalytic conversions of light alkanes with emphases on the design and preparation of novel heterogeneous catalysts, as well as the development of advanced processes in the recent 10 years. The perspectives of potential areas for future study are also provided.