Rolling is one of the most important processes in the metallurgical industry due to its versatility. Despite its inherent advantages, design and manufacturing by rolling still rely on trial-and-error-based optimizations, which reduces its efficiency. To minimize the cost and time spent on the development of new rolling schedules, various analytical and numerical methods have been used in recent years. Among other alternatives, simulations based on the finite element method (FEM) are the most widely used. This allows for the analysis of the feasibility of new rolling schedules considering metal alloys with different characteristics, process conditions, or the creation of new operations, as well as the optimization of existing ones. This paper presents a literature review including the latest developments in the field of numerical simulation of rolling processes, which have been classified according to the type of rolling into the following categories: flat rolling, shape rolling, ring rolling, cross-wedge rolling, skew rolling, and tube piercing.