Floating offshore wind turbines (FOWTs) have received increasing attention as a crucial component in renewable energy systems in recent years. However, due to the intricate interactions between aerodynamics and hydrodynamics, accurately predicting the performance and response remains a challenging task. This study examines recent advancements in the coupled aero–hydrodynamic numerical simulations for horizontal-axis FOWTs, categorizing existing research by coupling methods: uncoupled, partially coupled, and fully coupled. The review summarizes models, methodologies, and key parameters investigated. Most partially coupled analyses rely on forced oscillation, while the interplay between aerodynamics and elasticity, as well as interactions among multiple FOWTs, remain under-explored. Additionally, this review describes relevant physical model tests, including wave basin tests, wind tunnel tests, and real-time hybrid tests (RTHT). Although RTHT faces issues related to system time delays, they have garnered significant attention for addressing scale effects. The paper compares the three coupling methods, emphasizing the importance of selecting the appropriate approach based on specific design stage requirements to balance accuracy and computational efficiency. Finally, it suggests future research directions, offering a meaningful reference for researchers engaged in studying the aero–hydrodynamic behavior of FOWTs.