This article is a review of models for predicting ultra-low cycle fatigue life. In the article, the life prediction models are divided into three types: (1) microscopic ductile fracture models based on cavity growth and cavity merger; (2) fracture models based on porous plasticity; and (3) ductile fracture models based on continuum damage mechanics. Furthermore, the article provides a critical assessment of the current state of research on ultra-low cycle fatigue life prediction models, highlighting the limitations and challenges faced by each model type. Ultimately, this review aims to provide a comprehensive overview of the different models available for predicting ultra-low cycle fatigue life and to guide future research in this important area of materials science and engineering.