With the world’s energy reserves under strain and the requirements of national carbon emission regulations, the fuel efficiency and environmental friendliness of automobiles are becoming increasingly important. Due to the combination of long cruising range and energy efficiency, hybrid electric vehicles (HEVs) have been adopted as a reliable option for improving fuel economy and reducing emissions. In order to fully exploit the advantages of hybrid electric vehicles, energy management and torque distribution have become the focus of control strategies for HEVs, while also ensuring battery life and meeting requirements for fuel consumption, emissions and driving performance. Therefore, a great deal of research has been carried out on energy management strategies and many approaches have been offered in the literature. This review provides a comprehensive assessment of the literature, highlighting its contributions and making a complete reference for scholars interested in hybrid vehicle development, control, and optimization.