With the rapid development of China’s space exploration satellites， deep space exploration vehicles and other national strategic equipment， the service environment of aerospace materials become increasingly strict. The aerospace materials often subjected to extreme low temperature. However， the mechanical and physical properties of materials at low temperature are very different from those at normal temperature. The evaluation of mechanical and physical properties of materials at extremely low temperature have become the focus of people’s attention.Recent development in low-cost rapid evaluation method for the mechanical properties of materials at the extremely low temperature in deep space are summarized and reviewed in this paper. A novel modeling idea named Force-Heat Energy Density Equivalence Principle has been applied to characterize the mechanical properties of materials at extremely low temperature， such as yield strength， elastic modulus， ideal tensile strength and hardness. In addition， the extended application of Force-Heat Energy Density Equivalence Principle in the low-cost rapid evaluation of the physical properties， such as the band gap energy， refractive index， Raman frequency shift of semiconductor materials and the magnetocrystalline anisotropy constant of metallic materials at low temperature is also introduced. In particular， this evaluation method provides an effective way to monitor the main mechanical and physical properties of key materials in orbit on the ground in real time. It provides important means for the design， reliability evaluation and real-time performance monitoring of key materials in national high-end equipment.