Lemborexant is a new drug for the treatment of insomnia. It is a dual orexin receptor antagonist that competitively binds to two orexin receptors, OX1R and OX2R, inhibits orexin neurotransmission, and regulates the sleep-wake rhythm. This article comprehensively reviews the discovery of the drug target, basic information, clinical studies, safety assessment, and limitation analysis of lemborexant, aiming to provide a comprehensive understanding of the current research status and achievements of this drug in clinical practice.