Press-pack IGBT power devices are the core component in the new power system application equipment, and health management can improve their service lifetime and operational reliability, thus guaranteeing the safety and stability of new power systems. First, the package structure and main failure modes of press-pack IGBT devices are introduced. Second, the existing health condition monitoring methods are classified and analyzed according to different types of characteristic parameters. Third, the principles and characteristics of the existing lifetime prediction methods for press-pack IGBTs are summarized. Finally, a comprehensive comparative analysis of the existing health management technologies is performed, and the problems in the health management methods for press-pack IGBTs which need to be further studied and the development trends in the future are pointed out.