Gas hydrate naturally forms under the subsea bed and in the transportation pipelines with favorable thermodynamic conditions. Ionic liquid (IL) has been established itself as a novel kinetic and thermodynamic inhibitor of gas hydrate formation and dissociation. The theoretical understanding further enables exploration of the various classes of ILs for the dissociation and inhibition of gas hydrate formation. This review is the focused assessment of thermodynamic and kinetic modeling of the gas hydrate/IL system with a detailed discussion of inhibition aspects and the role of ILs. Based on the present status, future areas of gas hydrate/IL modeling and possible improvements are highlighted.