Hypoxia-inducible factors (HIFs) play an important role in maintaining the homeostasis of cells and the adaptability of hypoxia when the oxygen content is unable to meet the needs of cells. Hypoxia significantly affected the normal development of organisms and the progression of disease, especially the growth of solid tumors. At present, the mechanism of HIFs regulating bone tumor development and metastasis is one of the hot research fields of tumor biology. In recent years, many studies have confirmed that HIFs has a complex regulatory mechanism in the development of bone tumor, but there are still many questions. This article reviews the research progress about HIFs and bone tumor.