Offshore wind turbines (OWTs) in cold climate regions have become increasingly significant due to the abundant wind resources with the development of renewable energy. These areas offer considerable potential for the development of OWTs. Generating energy for communities in cold climate regions involves overcoming significant challenges posed by the remote and harsh environmental conditions. This review presents the state-of-the-art research regarding prediction models for ice accretion on wind turbine components. Furthermore, this review summarizes advanced mitigation solutions, such as cold-weather packages and ice protection systems, designed to address icing issues. The present study identifies critical knowledge gaps in OWT deployment in cold climate regions and proposes future research directions.