**1. Introduction**

In general, the assessment of the thermal performance of a system through numerical simula‐ tions is much affordable compared to experimental studies with high expenses of material and

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equipment. The significance of a numerical study is highlighted when a nanofluid is utilized as the working fluid. High costs for the production of nanofluids and difficulties in preparing stable nanofluids are the main barriers to perform experiments with nanofluids. Therefore, numerical modeling of nanofluids, where a suitable approach is selected to simulate the flow, could be the best solution for problems involved with nanoparticle suspensions.

However, in spite of considerable developments in computing power and methods, literature review reveals that there is no comprehensive study to conclude the best technique for the modeling of nanofluids. In particular, due to the ultrafine size of nanoparticles, the governing terms in multiphase models are still not entirely identified. In the present work, latest studies on numerical simulations of nanofluid flow are reviewed with a particular focus on different multiphase schemes.
