This review comprehensively examines advancements in Computational Fluid Dynamics (CFD) applications within the context of Floating Offshore Wind Turbines (FOWTs). It highlights the role of CFD in both hydrodynamics and aerodynamics, underscoring its significance in analyzing FOWT performance. The discussion includes a range of prototypes, encompassing various FOWT platforms and wind turbines, along with a comparative assessment of scale effects. Distinct features of diverse CFD software, comprising open-source, commercial, and in-house solvers, are critically analyzed. The review delves deeply into hydrodynamic CFD applications, addressing aspects like viscous damping, numerical wave tanks, and wave-induced motions. In aerodynamics, it explores wake flow, complex inflow, blade-tower interactions, etc. The intricate challenges of coupled aerohydrodynamics in FOWTs are also summarized, emphasizing the confluence of aerodynamic and hydrodynamic forces. Concluding with an outlook on future trends and emerging challenges in FOWT dynamics, the paper proposes directions for ongoing research and development in this swiftly progressing sector. This review aims to be a valuable reference for both researchers and engineers, providing a comprehensive overview of current CFD applications and their crucial contribution to the advancement of FOWT technology.