High-entropy alloys (HEAs) are based on five or more principal elements with equal or nearly equal molar fractions and possess many significant advantages over traditional alloys, including high strength and hardness, excellent corrosion resistance, outstanding thermal stability, and irradiation resistance. Phase structure plays a vital role in determining the property of HEAs. For further enhancing the performance of HEAs in various application fields, a controllable synthesis with desired phases is required. In this review, the diverse phase structures of HEAs and the related properties are first introduced. Then, alternative tuning strategies to promote the desired phase structure of HEAs are focused upon. Property adjusting of phase-engineered HEAs is also discussed in depth. Lastly, some insights into the challenges and future prospects in this rapidly emerging research field are provided.