Aquaporins (AQPs) got their name from the water transport ability, and recently, their multi-transport activities and multiple physiological functions were also frequently reported. This review focused on the analysis of recent progress on physiological functions and subcellular localizations of plant aquaporins. The relationship between the multi-physiological functionality and the multiple intracellular localizations and redistribution of plant aquaporins were also thoroughly discussed, thus raising questions about the current research and research direction for plant aquaporins. To reveal the possible mechanism on the multiple physiological functions, it is necessary and essential to analyze the connections between functions and tissue and subcellular localizations in future.