Abstract: The current studies are blamed for their putting too much emphasis on the working memory components while ignoring its function. However, in terms of function, the working memory can be divided into the processing function and the storage function. Cognitive psychologists have consistently been concerned about the relationship between processing and storage. To begin with, the paper introduces some theories concerning the relationship between processing and storage, and then discusses respectively the impact of domain specificity, cognitive load and emotion upon the processing and storage of working memory. As for the current studies, problems are found to exist in both the research paradigm of the working memory and the understanding of the working memory function. Further research remains to be done in aspects like the relationship between processing and storage, and the emotional working memory.