Due to the large number of distribution transformers in the distribution grid, the status of distribution transformers plays an important role in ensuring the safe and reliable operation of the these grids. To evaluate the distribution transformer health, many assessment techniques have been studied and developed. These tools will support the transformer operators in predicting the status of the distribution transformer and responding effectively. This paper will review the literature in the area, analyze the latest techniques as well as highlight the advantages and disadvantages of current methodologies.