Abstract: Owing to the low maintenance cost and excellent comprehensive performance, induction motors are widely used in the fields of delivery systems, industrial drives and numerical control equipment. The accuracy of the motor model is the basis for realizing a high-performance control system, and it is significant to study the accurate and reliable parameter identification techniques. A comprehensive review of the principles and application effects of various parameter identification methods for induction motors is conducted, revealing the research value, technical challenges, and development trends of different approaches. Firstly, the demands of induction motor control system for parameters and their characteristics are elaborated, the offline identification methods based on signal injection and rotation test are introduced. Then, the effects of parameter changes under different working conditions are analyzed, the limitations of offline identification are pointed out, the principles and technical challenges of the existing online identification schemes are summarized. On this basis, the progress of the application of artificial intelligence algorithms in parameter identification is introduced. Finally, critical issues in the field of induction motor parameter identification are discussed and prospected.