Over the years, induction machines (IMs) have become key components in industry applications as mechanical power sources (working as motors) as well as electrical power sources (working as generators). Unexpected breakdowns in these components can lead to unscheduled down time and consequently to large economic losses. As breakdown of IMs for failure study is not economically feasible, several IM computer models under faulty conditions have been developed to investigate the characteristics of faulty machines and have allowed reducing the number of destructive tests. This paper provides a review of the available techniques for faulty IMs modelling. These models can be categorised as models based on electrical circuits, on magnetic circuits, models based on numerical methods and the recently proposed in the technical literature hybrid models or models based on finite element method (FEM) analytical techniques. A general description of each type of model is given with its main benefits and drawbacks in terms of accuracy, running times and ability to reproduce a given fault.