The recommender systems community is witnessing a rapid shift from multi-stage cascaded discriminative pipelines (retrieval, ranking, and re-ranking) toward unified generative frameworks that directly generate items. Compared with traditional discriminative models, generative recommender systems offer the potential to mitigate cascaded error propagation, improve hardware utilization through unified architectures, and optimize beyond local user behaviors. This emerging paradigm has been catalyzed by the rise of generative models and the demand for end-to-end architectures that significantly improve Model FLOPS Utilization (MFU). In this survey, we provide a comprehensive analysis of generative recommendation through tri-decoupled perspective of tokenization, architecture, and optimization, three foundational components that collectively define existing generative systems. We trace the evolution of tokenization from sparse ID- and text-based encodings to semantic identifiers that balance vocabulary efficiency with semantic expressiveness; analyze encoder–decoder, decoder-only, and diffusion-based architectures that increasingly adopt unified, scalable, and efficient backbones; and review the transition from supervised next-token prediction to reinforcement learning–based preference alignment enabling multi-dimensional preference optimization. We further summarize practical deployments across cascade stages and application scenarios, and examine key open challenges. Taken together, this survey is intended to serve as a foundational reference for the research community and as an actionable blueprint for industrial practitioners building next-generation generative recommender systems. To support ongoing research, we maintain a living repository https://github.com/Kuaishou-RecModel/Tri-Decoupled-GenRec}{https://github.com/Kuaishou-RecModel/Tri-Decoupled-GenRec that continuously tracks emerging literature and reference implementations.