With the increase in the penetration rate of gridconnected wind power and the continuous expansion of the scale of wind farms, the integration of wind power into the grid will have a significant impact on the power quality and power dispatching of the regional power grids. In order to study the macroscopic dynamic response characteristics of wind farms under large disturbances, it is very important to carry out dynamic equivalent modeling of wind farms. Aiming at the research on dynamic equivalent modeling of wind farms, this paper briefly introduces the current mainstream wind turbine types and their model structures. Then, the reduced order method, the singlemachine equivalent method and the multimachine equivalent method of the equivalent modeling methods are compared and elaborated, and the calculation of equivalent parameters and the equivalent value of the collector network are summarized. Finally, the existing challenges in equivalent modeling of wind farms are summarized, and the future research directions are prospected.