Models and modeling are considered integral parts of scientific literacy, reflecting educators' efforts to introduce and engage students in authentic scientific inquiry through Modeling-based Learning (MbL) approaches in science. Over the years research has developed a considerable amount of knowledge concerning MbL. Our purpose in this paper was to review this research in order to systematize the knowledge accumulated and to provide an overview of what needs to be investigated further. We also took into account and describe the role of the teacher as part of the review. Our review shows that MbL has made cognitive, metacognitive, social, material and epistemological contributions in science education. Furthermore, it reveals that important information is still missing in order to ensure effective implementations of MbL. Future research needs to focus on investigating the learning processes which take place during MbL which result in improvements in student conceptual and epistemological understanding and abilities for scientific inquiry.