Ethical decision-making within the realm of Information Technology (IT) governance is of paramount importance due to its far-reaching implications on organizational integrity, stakeholder trust, and societal welfare. This review presents a comprehensive review of various models and frameworks aimed at guiding ethical decision-making processes within IT governance contexts. The review begins by elucidating the fundamental principles underlying ethical decision-making, emphasizing the significance of moral reasoning, accountability, and transparency in IT governance. It then proceeds to examine prominent models and frameworks, categorizing them based on their theoretical foundations, applicability, and intended outcomes. Firstly, traditional normative ethical theories such as utilitarianism, deontology, and virtue ethics are discussed in the context of their application to IT governance dilemmas. These theories provide overarching ethical frameworks within which IT decision-makers can evaluate actions and policies. Secondly, the review delves into contemporary approaches specifically tailored for IT governance, including the Ethical Decision-Making Framework (EDMF), the Responsible Decision-Making Model (RDM), and the Ethical Governance Framework (EGF). These models offer systematic processes for identifying, analyzing, and resolving ethical dilemmas inherent in IT decision-making, considering factors such as privacy, security, intellectual property rights, and social responsibility. Furthermore, the review highlights the importance of integrating ethical considerations into existing IT governance frameworks, such as COBIT (Control Objectives for Information and Related Technologies) and ITIL (Information Technology Infrastructure Library), to ensure comprehensive governance practices. Lastly, the review examines emerging trends in ethical decision-making within IT governance, including the utilization of artificial intelligence and machine learning algorithms for ethical decision support, the incorporation of ethical design principles in software development processes, and the role of organizational culture in fostering ethical behavior among IT professionals. This review underscores the critical need for robust models and frameworks to guide ethical decision-making in IT governance, providing a foundation for organizations to navigate complex ethical dilemmas while upholding principles of integrity, accountability, and societal welfare.