With the aim of achieving improved individual comfort and reduce energy consumption in providing cooling and heating, textiles regulating heat and moisture exchange between human body and its surroundings are a promising solution. This paper reviews the researches on functional textiles for heat and moisture management. The review started with the introduction of personal heat and moisture comfort management mechanisms, followed by summarizing six common advanced functional textiles that can be used for personal heat and moisture management, these being the radiative thermoregulation textiles, phase change thermoregulation textiles, smart response textiles, thermal conductive textiles, thermoregulation textiles for energy conversion, and moisture management textiles. The research progress in functional textiles was summarized on the basis of different heat and moisture management mechanisms and their potential applications in several fields, taking that fabric regulation of microclimate between body and ambient heat and moisture balance is the key to individual comfort. The review pointed out that the current advanced functional textiles for heat and moisture management still have problems such as difficulties in scale preparation, functional singleness, lack of intelligence and absence of systemic heat and moisture comfort evaluation, and it is foreseen that advanced textiles for personal heat management, energy harvesting technology and integration of flexible electronic devices are the future development trend of smart clothing.