The growing interest in renewable energy solutions for sustainable development has significantly advanced the design and analysis of floating offshore wind turbines (FOWTs). Modeling FOWTs presents challenges due to the considerable coupling between the turbine’s aerodynamics and the floating platform’s hydrodynamics. This review paper highlights the critical role of computational fluid dynamics (CFD) in enhancing the design and performance evaluation of FOWTs. It thoroughly evaluates various CFD approaches, including uncoupled, partially coupled, and fully coupled models, to address the intricate interactions between aerodynamics, hydrodynamics, and structural dynamics within FOWTs. Additionally, this paper reviews a range of software tools for FOWT numerical analysis. The research emphasizes the need to focus on the coupled aero-hydro-elastic models of FOWTs, especially in response to expanding rotor diameters. Further research should focus on developing nonlinear eddy viscosity models, refining grid techniques, and enhancing simulations for realistic sea states and wake interactions in floating wind farms. The research aims to familiarize new researchers with essential aspects of CFD simulations for FOWTs and to provide recommendations for addressing challenges.