Full-waveform inversion (FWI) utilizes optimization methods to recover an optimal Earth model to best fit the observed seismic record in a sense of a predefined norm. Since FWI combines mathematic inversion and full-wave equations, it has been recognized as one of the key methods for seismic data imaging and Earth model building in the fields of global/regional and exploration seismology. Unfortunately, conventional FWI fixes background velocity mainly relying on refraction and turning waves that are commonly rich in large offsets. By contrast, reflections in the short offsets mainly contribute to the reconstruction of the high-resolution interfaces. Restricted by acquisition geometries, refractions and turning waves in the record usually have limited penetration depth, which may not reach oil/gas reservoirs. Thus, reflections in the record are the only source that carries the information of these reservoirs. Consequently, it is meaningful to develop reflection-waveform inversion (RWI) that utilizes reflections to recover background velocity including the deep part of the model. This review paper includes: analyzing the weaknesses of FWI when inverting reflections; overviewing the principles of RWI, including separation of the tomography and migration components, the objective functions, constraints; summarizing the current status of the technique of RWI; outlooking the future of RWI.