Reservoir operation optimisation secures benefits, such as optimising energy production while minimising the possibility of flooding, operating costs, and water scarcity, at the lowest possible cost. This paper carries reviews of research on reservoir optimisation models and the consequential challenges of optimally operating reservoir operations. An introductory section is given to the background of reservoir operations and the current concerns on the optimal reservoir operations, for the decision-makers and stakeholders. Next, the review covered the recent ten years (between 2011 and 2021), on the recent research developments in innovation and techniques of reservoir operation optimisation. Further reviews on the conventional techniques that are the traditional methods, linear programming, nonlinear programming, and dynamic programming are discussed. Enhancements to the techniques in improving the drawbacks of the traditional techniques in optimisation of reservoir policies are next explained and evaluated. Recent advances in applying metaheuristics optimisation algorithms beneficial to the reservoir operations are explained, including the advantages and hinderances. A comprehensive tabulated and categorised review according to the classification of reservoir models, evaluation methods, and reservoir systems is given.