In recent years, the application of artificial intelligence (AI) for emotional companionship in mental health has attracted significant attention, particularly due to its potential role in psychological counseling. This emerging research area offers promising opportunities. As a technological tool, AI can utilize natural language processing and deep learning models to assess users’ emotional states, provide emotional support, and help alleviate psychological stress. This non-traditional approach to psychological support not only expands the accessibility of mental health services but also delivers a more personalized user experience. However, despite these advancements, AI emotional companionship remains in its exploratory stage, with numerous research areas requiring further investigation. This paper reviews key advancements in AI emotional companionship, particularly in the context of psychological counseling, and explores the main differences between AI-driven emotional support and traditional counseling methods. By examining current research findings, we summarize the progress of AI emotional companionship, its applications in psychological counseling, and suggest future research directions and challenges.