Hyperlipidemia and osteoporosis are metabolic diseases. In clinic, patients with hyperlipidemia are often diagnosed with osteoporosis. Recent studies have shown that hyperlipidemia could induce bone metabolic disorders to exacerbate the progression of osteoporosis, suggesting that hyperlipidemia is strongly linked to the occurrence and development of osteoporosis. To date, the potential pathophysiological mechanisms of hyperlipidemia induce inflammation, oxidative stress, abnormal accumulation of lipid and lipid oxidation on bone metabolism are gradually clarified. This article reviewes the mechanisms of how hyperlipidemia initiates and promotes osteoporosis. With it, we desire to provide new approaches for the treatment of hyperlipidemia and osteoporosis.