The gradual decline in global oil reserves and presence of ever so stringent emissions rules around the world, have created an urgent need for the production of automobiles with improved fuel economy. HEVs (hybrid electric vehicles) have proved a viable option to guaranteeing improved fuel economy and reduced emissions. The fuel consumption benefits which can be realised when utilising HEV architecture are dependent on how much braking energy is regenerated, and how well the regenerated energy is utilised. The challenge in developing an HEV control strategy lies in the satisfaction of often conflicting control constraints involving fuel consumption, emissions and driveability, without over-depleting the battery state of charge at the end of the defined driving cycle. As a result, a number of power management strategies have been proposed in literature. This paper presents a comprehensive review of these literatures, focusing primarily on contributions in the aspect of parallel hybrid electric vehicle modelling and control. As part of this treatise, exploitable research gaps are also identified. This paper prides itself as a comprehensive reference for researchers in the field of hybrid electric vehicle development, control and optimisation.