The forest musk deer (Moschus berezovskii) is an endangered artiodactyl species. Males have a musk gland that secretes musk. Musk is the raw material for many medicines and has high economic value. In recent years, because of the impacts of illegal trade and habitat fragmentation, the wild forest musk deer has nearly been driven to extinction, and it has been listed as a key protected animal by many countries. Since 2002, the Chinese government has listed wild forest musk deer populations as first-class nationally protected animals and has conducted many artificial breeding studies. In this article, we review and summarise the biological characteristics and protective measures of wild forest musk deer, the musk synthesis mechanisms and the factors influencing musk yield. We also discuss the problems facing forest musk deer conservation and the development of musk-related medicines.