This review paper summarizes the importance of thermal management system and mathematical models used in the prediction of temperature distribution of an induction motor. The lumped parameter thermal network modelling approach is explained in detail with a suitable example. The recent computational methods and their pros and cons on estimating the temperature distribution are discussed. The experimental method on estimating equivalent value for thermal resistance and capacitance is highlighted from the literature. The understanding on physical mechanism of heat transfer is emphasized to recognize thermal flow path for better utilization of cooling techniques. The recent trend in coupling electromagnetic and thermal phenomena is also considered. This study will be helpful on future design of induction motor to meet difficult constraints.