Aeroelastic phenomena in turbomachinery are one of the most challenging problems to model using computational fluid dynamics (CFD) due to their inherent nonlinear nature, the difficulties in simulating fluid–structure interactions and the considerable computational requirements. Nonetheless, accurate modelling of self-sustained flow-induced vibrations, known as flutter, has proved to be crucial in assessing stability boundaries and extending the operative life of turbomachinery. Flutter avoidance and control is becoming more relevant in compressors and fans due to a well-established trend towards lightweight and thinner designs that enhance aerodynamic efficiency. In this paper, an overview of computational techniques adopted over the years is first presented. The principal methods for flutter modelling are then reviewed; a classification is made to distinguish between classical methods, where the fluid flow does not interact with the structure, and coupled methods, where this interaction is modelled. The most used coupling algorithms along with their benefits and drawbacks are then described. Finally, an insight is presented on model order reduction techniques applied to structure and aerodynamic calculations in turbomachinery flutter simulations, with the aim of reducing computational cost and permitting treatment of complex phenomena in a reasonable time.