The exploitation of mineral resources polluted the environment and destroyed the ecosystem seriously, and it affected the economic growth and residents' life in mining areas. In order to eliminate this negative externality, we must make compensation accordingly. Based on the definition of the concept, this paper systematically combed the theoretical literature of ecological compensation for mineral resources exploitation, and summarized the practice at home and abroad. The research found that there were still some shortcomings in the existing literature, including the design of ecological compensation contract, the allocation of compensation funds, the differential standard of compensation, the transaction cost measurement and critical point of different compensation modes, and so on. These academic issues are worthy of further study in the future. China's ecological compensation for mineral resources exploitation started late, and some problems have emerged in practice, including insufficient system construction and regulatory system, and so on. By contrast, the United States, Germany, the United Kingdom and other countries had rich experience in many aspects, including construction of legal system, classification compensation for different mining areas, entry and exit mechanism, fund guarantee system, construction of regulatory mechanism and so on. Learning from the advanced experience of other countries, we can improve China's ecological compensation mechanism of mineral resources exploitation in some aspects, including improving the legal system, the deposit system and the ecological compensation tax system, as well as establishing and perfecting the regulatory system, and so on.