Research progresses in parameterization schemes for estimating downward shortwave and longwave radiations are reviewed by use of satellite data and ground-based routine observations in recent years. Based on a comprehensive analysis of the relevant literatures, the theoretical backgrounds of downward shortwave and longwave radiation parameterization schemes are described. According to the clear-sky and cloudy-sky conditions, the radiation parameterization schemes are summarized and their advantages and disadvantages in the practical application are reviewed. Under clear-sky conditions, the main parameterization schemes of downward shortwave radiation are statistical methods and radiative transfer models; the longwave radiation parameterization schemes are mainly single-parameter and dual-parameter methodologies. Under cloudy-sky conditions, radiation parameterization schemes are mainly limited to the determination of cloudiness. The limitations of estimating downward shortwave and longwave radiation on the surface are the selections of appropriate parameterization scheme that need considering land cover types and the attainment of meteorological observations and satellite remote sensing data. In the future, the relatively promising estimation approach is pointed out by combination of polar-orbiting and geostationary satellite remote sensing data.