In this paper, a definition of a biomodel is presented, based on which different specific types of biomodels are identified, viz., virtual biomodels, computational biomodels, and physical biomodels. The paper then focuses on both physical and virtual biomodels of bone, and presents a review of model generation methodologies, giving examples of typical biomodel applications. The use of macroscale biomodels for such issues as the design and preclinical testing of surgical implants and preoperative planning is discussed. At the microscale, biomodels of trabecular bone are examined and the link with scaffolds for tissue engineering is established. Conclusions are drawn on the state of the art, and the major developments necessary for the continued expansion of the field are identified. Finally, arguments are given on the benefits of integrating the use of the different types of biomodels reviewed in this paper, for the benefit of future research in biomechanics and biomaterials.