Hydrogen has been attracting attention as a fuel in the transportation sector to achieve carbon neutrality. Hydrogen storage in liquid form is preferred in locomotives, ships, drones, and aircraft, because these require high power but have limited space. However, liquid hydrogen must be in a cryogenic state, wherein thermal insulation is a core problem. Inner materials, including glass bubbles, multi-layer insulation (MLI), high vacuum, and vapor-cooled shields, are used for thermal insulation. An analytic study is preferred and proceeds liquid hydrogen tanks due to safety regulations in each country. This study reviewed the relevant literature for thermodynamic modeling. The literature was divided into static, dynamic, and systematic studies. In summary, the authors summarized the following future research needs: The optimal design of the structure, including suspension, baffle, and insulation system, can be studied to minimize the boil-off gas (BOG). A dynamic study of the pressure, mass flow, and vaporizer can be completed. The change of the components arrangement from the conventional diesel–electric locomotive is necessary.