Magnesium (Mg) alloy is a widely used lightweight metal structural material due to its high specific strength and stiffness, excellent damping performance, and recyclability. Wrought Mg alloys are widely favored in fields such as aerospace, transportation, and biomedical stents. However, most wrought Mg alloys with a hexagonal close-packed (HCP) crystal structure lack sufficient independent slip systems to meet the von Mises criterion for uniform plastic deformation at room temperature. This can result in the formation of strong basal texture during plastic deformation and poor room temperature plastic forming ability. Improving the room temperature forming performance is a crucial challenge that must be addressed to broaden the application of Mg alloy sheets. Our research group has comprehensively summarized significant work and latest research progress in improving the room temperature forming of Mg alloy sheets via extrusion technology in recent years. Specifically, we have developed a new type of asymmetric extrusion technology that combines material structure evolution, mechanical property, and forming behavior analysis. We have elucidated the extrusion process characteristics, texture control mechanism, and forming properties of Mg alloy sheets through plastic deformation mechanisms, mold design, and finite element numerical simulation. Our findings provide a novel extrusion technology for the fabrication of highly formable Mg alloy sheets, which can be utilized in various applications.