The stability of a submarine pipeline on the seabed concs the flow-pipe-soil coupling, with influential factors related to the ocean waves and/or currents, the pipeline and the surrounding soils. A flow-pipe-soil coupling system generally has various instability modes, including the vertical and lateral on-bottom instabilities, the tunnel-erosion of the underlying soil and the subsequent vortex-induced vibrations (VIVs) of free-spanning pipelines. This paper reviews the recent advances of the slip-line field solutions to the bearing capacity, the flow-pipe-soil coupling mechanism and the prediction for the lateral instability, the multi-physical coupling analysis of the tunnel-erosion, and the coupling mechanics between the VIVs and the local scour. It is revealed that the mechanism competition always exists among various instability modes, e.g., the competition between the lateral-instability and the tunnel-erosion. Finally, the prospects and scientific challenges for predicting the instability of a long-distance submarine pipeline are discussed in the context of the deep-water oil and gas exploitations.