Urban traffic demand forecasting is one of the hot topics in traffic engineering. In this paper, the modern urban traffic demand forecasting theory and model are analyzed systematically. Focusing on the prediction models of traffic generation, traffic distribution and traffic mode split, the basic principles, research progress, traditional models and their improvement, the application of the models in each stage are summarized. Finally, the key points and difficulties in urban traffic demand forecasting are summarized, and the future development direction is also pointed out.