Polycyclic aromatic hydrocarbons (PAHs) are carcinogenic and lipophilic, which can be found in frying system. This review summarized the formation, migration and derivation for PAHs, hypothesized the possible mechanism for PAHs generation during frying and presented the research prospects. Some factors like high oil consumption, high temperature, long time and oil rich in unsaturated fatty acids promoted the formation of PAHs and the presence of antioxidants inhibited the PAHs formation. The effect of proteins and carbohydrates in foods on the formation of PAHs is inconclusive. The formed PAHs were migrated into food and air. Moreover, some PAHs transformed into more toxic PAHs-derivatives during frying. The generation of PAHs may be related to low-barrier free radical-mediated reaction and the unsaturated hydrocarbons may be precursors of PAHs during frying. In future, the isotope tracer technology and on-line detection may be applied to discover intermediates and provide clues for studying PAHs generation mechanisms.