Antibody response is a crucial host defense against human immunodeficiency virus type 1 (HIV-1) infection. In recent years, tremendous progress has been made in isolating and characterizing of broadly neutralizing monoclonal antibodies (bnmAbs) from “elite neutralizers” who remain healthy despite of prolonged infection. These bnmAbs were found to target four major vulnerable sites on the envelope glycoprotein. Structural and functional characterization of these bnmAbs has provided critical foundation for our better understanding of protective antibody response in vivo. In the current review, we summarize the characteristics of these bnmAbs and discuss on their implications for rational design of novel HIV-1 vaccines capable of inducing antibodies similar to those bnmAbs.