Aeroelasticity in the form of blade flutter is a major concern for designers in the field of turbomachinery. This paper presents a review of the research and development on blade flutter modeling, including the unsteady aerodynamic model, the structural model and flutter prediction methods. Based on the presentation of these models, the fundamental mechanism and effects of different treatments are discussed. At the end of paper, some deficiencies in the research of flutter and difficulties in modeling fluid-solid coupling effects are pointed out, to which attention should be paid in future.