γ-Valerolactone (GVL) is a promising biomass platform compound that can be obtained by catalytic hydrogenation of levulinic acid (LA). At present, researchers have developed a variety of catalysts for the selective hydrogenation of LA to GVL in different solvent systems. The most favorable routes for GVL synthesis are in aqueous and solvent-free systems, where good hydrothermal stability and acid resistance of the catalysts are crucial for the efficient hydrogenation of LA. In this review, we summarized the recent advances of the synthesis of GVL from LA in aqueous and solvent-free systems. In addition, this paper also analyzed the advantages and disadvantages of different catalytic systems, to provide some useful guideline for the development of an efficient and economic GVL synthesis system.