In recent years supercritical CO2 power plants have seen a growing interest in a wide range of applications (e.g., nuclear, waste heat recovery, solar concentrating plants). The Allam Cycle, also known as the Allam-Fetvedt or NET Power cycle, seems to be one of the most interesting direct-fired sCO2 cycles. It is a semi-closed loop, high-pressure, low-pressure ratio, recuperated, direct-fired with oxy-combustion, trans-critical Brayton cycle. Numerical simulations play a key role in the study of this novel cycle. For this reason, the aim of this review is to offer the reader a wide array of modeling solutions, emphasizing the ones most frequently employed and endeavoring to provide guidance on which choices seem to be deemed most appropriate. Furthermore, the review also focuses on the system’s performance and on the opportunities related to the integration of the Allam cycle with a series of processes, e.g., cold energy storage, LNG regasification, biomass or coal gasification, and ammonia production.