Visible Light Communications (VLC) represents a new technology of wireless communications allowing high data rate, high-speed internet access, green and friendly communication system, especially for indoor users, where the use of Light Emitting Diodes (LEDs) is growing as a viable alternative to traditional illumination. Orthogonal frequency division multiplexing (OFDM) is a promising modulation format for optical wireless communication (OWC); however, precise channel estimation is required for synchronization and equalization. Moreover, one of the challenging issues for OFDM is its high Peak-to-Average Power Ratio (PAPR) due to the superposition of all subcarriers; therefore, the system requires a high linearity and dynamic range. This paper provides a systematic overview of OFDM-based VLC systems, highlighting the essential aspects of PAPR reduction and channel estimation techniques. Several technical challenges have been addressed to realize the full potential of OFDM-based VLC technology. Moreover, we provide new insights into the over-explored and under-explored areas, which lead us to identify open research problems of VLC based on OFDM. Concisely, this paper serves as a guide and a starting point for researchers willing to research VLC using OFDM.