Diabetic cardiomyopathy (DCM) is a cardiomyopathy that presents as cardiac structural and functional damage caused by sustained high blood glucose. DCM is one of the most common diabetic complications. It significantly increases the risk of heart failure in diabetic individuals independent of other cardiovascular diseases such as hypertension and coronary heart disease. The development of DCM experimental models will be helpful for investigating the in-depth molecular mechanisms of DCM as well as for developing new diagnostic and therapeutic approaches for DCM. In this review, we summarize the common animal models and in vitro models of DCM. The advantages of human induced pluripotent stem cell-derived cardiomyocytes in establishing DCM models are introduced to provide an important new insight for studying DCM.