Diabetes is a chronic disease, and its complexity and its various complications complicate studies in diabetes management. Aging is one of the main risk factors for diabetes, and elderly are a high-risk group for developing the disease. In recent years, increasing evidence has revealed the underlying molecular basis for aging diabetes and its connection to related signal pathways. Several key pathways in the aging process can affect insulin secretion and induce diabetes. In this review, we propose a possible connection between diabetes and aging in terms of development timeline and molecular pathology to better understand this interaction between two diseases, especially aging diabetes. Additionally, cell and animal models associated with diabetes are summarized, as well as a summary of models currently being used to study aging diabetes, and their strengths and limitations are also presented. The explanation of these types of models would help us to better understand the relationship between type 2 diabetes and aging and provide a basis for subsequent research on disease mechanisms and/or drug development.