The two-fluid model (TFM) coupled with the kinetic theory of granular flow (KTGF) has gradually been used for modeling dense granular flows and mixing in rotating drums in recent years. In the present paper, a review is made from the perspective of model development and model application. It is found that several frictional viscosity models were proposed to consider the enduring contact of dense particles for the specific rotating studied, but there is still a lack of a universal model. The model is validated by various experiment results and the applicability is indicated. The model is used for investigating dynamic particle flow, and the effects of the parameters on granular flow behavior and flight design. Although the model theoretically has the advantage of saving computing resources, and is suitable for industrial-scale modeling, it is found that the model is used for the research of laboratory-scale rotating drums (diameter less than 0.5 m) and has not been used for industrial rotating drum analysis. Moreover, recommendations for future work are provided.