Cavitation is one of the most difficult physical phenomena to understand and predict. Many experimental and computational studies have been conducted for better understanding of the phenomenon. Recently, with the rapid development of computing hardware capacity and numerical methods, considerable advancement is observed in prediction of cavitation using computational fluid dynamics. To that end, many cavitation models have been developed and reported. In the present paper, some of the distinguished cavitation models are categorized and reviewed in terms of the computational frame work and formulation of transport equations. Then those characteristics are compared with each other.