An ideal bone graft material should have osteocondutive, osteroindurctive, and osteogenic features. Scientists and doctors have been trying to develop this kind of material for over one century. However, all the features of few materials used in clinic now have been qualified. Recently, COLLOSS, as the new generation bone graft material of demineralized bone matrix, almost achieved this height. The paper presents a general survey of COLLOSS including its extraction processes, biological characteristics, and application prospects.