Laser–arc hybrid welding (LAHW) is known to achieve more stable processes, better mechanical properties, and greater adaptability through the synergy of a laser and an arc. Numerical simulations play a crucial role in deepening our understanding of this interaction mechanism. In this paper, we review the current work on numerical simulations of LAHW, including heat source selection laws, temperature field, flow field, and stress field results. We also discuss the influence of laser–arc interaction on weld defects and mechanical properties and provide suggestions for the development of numerical simulations of LAHW.