Lead zirconatetitanate (PZT), one of the best piezoelectric material, possess prominent dielectric and ferroelectric properties. It is widely used in several applications such as transistors, ferroelectric memories, sensors, etc. After discovering the existence of ferroelectricity in PZT, various synthesis techniques have been developed to produce PZT in various forms. In this paper, we report an extensive review on different preparation methods of PZT. The analysis has been done on the basis of literature which was collected from different sources. On the basis of cost effectiveness, PZT can be prepared in ceramic and film forms using solid state synthesis and sol-gel methods respectively. This review also include other synthesis techniques such as co-precipitation method, hydrothermal assisted process, spray pyrolysis, pulsed laser deposition (PLD), chemical solution deposition (CSD), etc. Also, this paper report the kind of properties that have been investigated, under different methods.