During the last decades, standards on building construction have risen sharply to integrate new, ambitious demands regarding energy efficiency, as well as thermal and optical comfort in the design procedure. Building simulation software assists in the accurate calculation of a hypothetical or existing building’s performance on several aspects; but they are, in their vast majority, assessment-oriented, rather than focused on dynamically supporting the decision-making procedure. During the last two decades, a clear shift of design professionals and academia towards addressing performance issues from the conceptual stages of a building’s design is observed. In this review, the methodology of performance-driven design optimization using computational/parametric design and optimization is presented, and the core literature available on the topic is reviewed in order to identify the current status, different approaches, obstacles, and areas of future research on the subject. The review findings confirm that there is enormous potential for the design of better-performing buildings using this technique, but there are still many obstacles to overcome and areas for future research.