In recent years, thermoelectric (TE) technology has been emerging as a promising alternative and environmentally friendly technology for power generators or cooling devices due to the increasingly serious energy shortage and environmental pollution problems. However, although TE technology has been found for a long time and applied in many professional fields, its low energy conversion efficiency and high cost also hinder its wide application. Thus, it is still urgent to improve the thermoelectric modules. This work comprehensively reviews the status of strategies and approaches for enhancing the performance of thermoelectrics, including material development, structure and geometry improvement, the optimization of a thermal management system, and the thermal structure design. In particular, the influence of contact thermal resistance and the improved optimization methods are discussed. This work covers many fields related to the enhancement of thermoelectrics. It is found that the main challenge of TE technology remains the improvement of materials’ properties, the decrease in costs and commercialization. Therefore, a lot of research needs to be carried out to overcome this challenge and further improve the performance of TE modules. Finally, the future research direction of TE technology is discussed. These discussions provide some practical guidance for the improvement of thermoelectric performance and the promotion of thermoelectric applications.