The sea cucumber, Apostichopus japonicus, is an important marine aquaculture species in China. After nearly thirty years of development, the production of A. japonicus has become commercially lucrative and successful. In this report, current advances in sea cucumber industry are addressed in terms of the basic biology, culturing methods, and health care benefits. Next, the challenges restricting development of the sea cucumber industry are discussed, including weaknesses in the basic biological research, the problem of germplasm degradation, environmental stress caused by global climate change, and food safety problems. Finally, several strategies are presented that might contribute to sustainable development of the sea cucumber industry. These strategies include advances in genome studies, behavioral studies, selective breeding, ecological culture technologies, reforms in food safety management, and the development of health care functions based on contemporary medical practices. Thus, our work provides new insights into how to explore the sustainable development of the sea cucumber industry in the future.