Changes in biomechanical properties such as elasticity modulus, viscosity, and poroelastic features are linked to the health status of biological tissues. Ultrasound elastography is a non-invasive imaging tool that quantitatively maps these biomechanical characteristics for diagnostic and treatment monitoring purposes. Mathematical models are essential in ultrasound elastography as they convert the raw data obtained from tissue displacement caused by ultrasound waves into the images observed by clinicians. This article reviews the available mathematical frameworks of continuum mechanics for extracting the biomechanical characteristics of biological tissues in ultrasound elastography. Continuum-mechanics-based approaches such as classical viscoelasticity, elasticity, and poroelasticity models, as well as nonlocal continuum-based models, are described. The accuracy of ultrasound elastography can be increased with the recent advancements in continuum modelling techniques including hyperelasticity, biphasic theory, nonlocal viscoelasticity, inversion-based elasticity, and incorporating scale effects. However, the time taken to convert the data into clinical images increases with more complex models, and this is a major challenge for expanding the clinical utility of ultrasound elastography. As we strive to provide the most accurate imaging for patients, further research is needed to refine mathematical models for incorporation into the clinical workflow.