Railway is expected to develop toward 21st century, as a mass transit system mainly from the aspects of energy consumption, ecology friendliness and economics. From technology point of view, it is very important to understand vehicle and track dynamic behaviours caused by wheel/rail interaction for the estimation of the running stability of vehicle and the deterioration of track components due to repeated passes of wheels. The precise estimation makes it possible to promote more efficient maintenance technology of vehicle and track. However, there are still some physical difficulties to estimate the stability and the deterioration. Since 1980s, computer simulation models of vehicle and track interaction have been proposed and lots of achievements have been obtained so far together with the development of computers. This paper reviews vehicle and track interaction models some of which include ballast and substrate or structures such as viaducts and bridges, and discusses the further study in the field.