Drought is considered one of the severest natural disasters and it is difficult to predict it. This review article aimed to display the state of the art of methods used to predict and monitor types of droughts. We examine more than 30 indices and models to identify the strengths and weaknesses of methods and identify gaps remaining in this field. Examples of examined indies are Palmer Drought Severity Index (PDSI), Standardized Precipitation Index (SPI), and Standardized Precipitation Evapotranspiration Index (SPEI). The research found improvement in drought modeling, however, more focus and improvement are required to monitor and predict drought types. It also found that some methods outperform others such as PDSI, SPI, SPEI, EVI, NDVI, NDWI, VCI and TCI.