我考虑了以下几种选择：
- VLOOKUP 数组公式
- MATCH / INDEX
- VBA（使用字典）
它们的性能比较如下：
- VLOOKUP 简单公式：约10分钟
- VLOOKUP 数组公式：约10分钟（1:1 的性能指数）
- MATCH / INDEX：约2分钟（5:1 的性能指数）
- VBA（使用字典）：约6秒钟（100:1 的性能指数）
在相同的参考表中进行查找
1）查找表格：（vlookup 数组公式版本）
A B
1
2 key51359 {=VLOOKUP(A2:A10001;sheet1!$A$2:$B$100001;2;FALSE)}
3 key41232 formula in B2
4 key10102 ... extends to
... ... ...
99999 key4153 ... cell B100001
100000 key12818 ... (select whole range, and press
100001 key35032 ... CTRL+SHIFT+ENTER to make it an array formula)
100002
2）查询表格：（匹配+索引版本）
A B C
1
2 key51359 =MATCH(A2;sheet1!$A$2:$A$100001;) =INDEX(sheet1!$B$2:$B$100001;B2)
3 key41232 =MATCH(A3;sheet1!$A$2:$A$100001;) =INDEX(sheet1!$B$2:$B$100001;B3)
4 key10102 =MATCH(A4;sheet1!$A$2:$A$100001;) =INDEX(sheet1!$B$2:$B$100001;B4)
... ... ... ...
99999 key4153 =MATCH(A99999;sheet1!$A$2:$A$100001;) =INDEX(sheet1!$B$2:$B$100001;B99999)
100000 key12818 =MATCH(A100000;sheet1!$A$2:$A$100001;) =INDEX(sheet1!$B$2:$B$100001;B100000)
100001 key35032 =MATCH(A100001;sheet1!$A$2:$A$100001;) =INDEX(sheet1!$B$2:$B$100001;B100001)
100002
3）查询表格：（vbalookup版本）
A B
1
2 key51359 {=vbalookup(A2:A50001;sheet1!$A$2:$B$100001;2)}
3 key41232 formula in B2
4 key10102 ... extends to
... ... ...
50000 key91021 ...
50001 key42 ... cell B50001
50002 key21873 {=vbalookup(A50002:A100001;sheet1!$A$2:$B$100001;2)}
50003 key31415 formula in B50001 extends to
... ... ...
99999 key4153 ... cell B100001
100000 key12818 ... (select whole range, and press
100001 key35032 ... CTRL+SHIFT+ENTER to make it an array formula)
100002
NB：由于某些（内外部）原因，vbalookup一次无法返回超过65536个数据。因此我不得不将数组公式拆分成两份。
以及相关的VBA代码：
Function vbalookup(lookupRange As Range, refRange As Range, dataCol As Long) As Variant
Dim dict As New Scripting.Dictionary
Dim myRow As Range
Dim I As Long, J As Long
Dim vResults() As Variant
' 1. Build a dictionnary
For Each myRow In refRange.Columns(1).Cells
' Append A : B to dictionnary
dict.Add myRow.Value, myRow.Offset(0, dataCol - 1).Value
Next myRow
' 2. Use it over all lookup data
ReDim vResults(1 To lookupRange.Rows.Count, 1 To lookupRange.Columns.Count) As Variant
For I = 1 To lookupRange.Rows.Count
For J = 1 To lookupRange.Columns.Count
If dict.Exists(lookupRange.Cells(I, J).Value) Then
vResults(I, J) = dict(lookupRange.Cells(I, J).Value)
End If
Next J
Next I
vbalookup = vResults
End Function
NB: Scripting.Dictionary需要一个对Microsoft Scripting Runtime的引用，这必须手动添加（在Excel VBA窗口中的Tools->References菜单）。
结论：
在这种情况下，使用字典的VBA比使用VLOOKUP快100倍，比MATCH/INDEX快20倍。
