Currently, crop physiological responses to waterlogging are considered only in a few crop models and in a limited way. Here, we examine the process bases of seven contemporary models developed to model crop growth in waterlogged conditions. The representation of plant recovery in these models is over-simplified, while plant adaptation or phenotypic plasticity due to waterlogging is often not considered. Aeration stress conceptualisation varies from the use of simple multipliers in equations describing transpiration and biomass to complex linkages of aeration-deficit factors with root growth, transpiration and nitrogen fixation. We recommend further studies investigating more holistic impacts and multiple stresses caused by plant behaviours driven by soils and climate. A sensitivity analysis using one model (a developer version of APSIM) with default parameters showed that waterlogging has the greatest impact on photosynthesis, followed by phenology and leaf expansion, suggesting a need for improved equations linking waterlogging to carbon assimilation. Future studies should compare the ability of multiple models to simulate real and in situ effects of waterlogging stress on crop growth using consistent experimental data for initialisation, calibration and validation. We conclude that future experimental and modelling studies must focus on improving the extent to which soil porosity, texture, organic carbon and nitrogen and plant-available water affect waterlogging stress, physiological plasticity and the ensuing temporal impacts on phenology, growth and yield.