The goal of “carbon peak and neutrality” is driving China's energy system to accelerate transition to clean, low-carbon development. As an important new clean energy source, natural gas hydrate (NGH) exhibits high energy density, wide distribution, and substantial resource potential. Therefore, accelerating its industrial production is key to achieving a reduction in pollution and carbon emission. NGH production involves Thermal-Hydrological-Mechanical-Chemical (THMC) multi-physical field coupling. Traditional experiments and production tests fail to fully reveal underlying mechanisms, making numerical simulation—with high functionality, flexible methods, and low cost—an essential research tool. This study systematically reviews theories, technologies, and applications of numerical simulation for natural gas hydrate production to provide theoretical support for safe, efficient extraction and advance the translation of simulation technologies to engineering practice. Specifically, it clarifies evolution laws of seepage parameters (e.g., porosity, permeability) during hydrate dissociation; identifies evolution of mechanical parameters (e.g., shear strength, cohesion) with hydrate saturation, revealing the core mechanism by which hydrates dominate reservoir mechanical property evolution via decomposition behaviour; outlines approaches to constructing THMC multi-physical field coupling models; summarizes functions and advantages of major global simulators (e.g., TOUGH+Hydrate, SuGaR-TCHM), and validates applications at typical pilot sites. Current numerical simulation research has limitations: multi-phase flow models insufficiently account for continuous pore structure evolution and impacts of hydrate saturation on relative permeability; characterization of mechanical properties and sand production risk responses in unconsolidated clayey silt sediments is inadequate; and capacity to predict long-term mechanical stability risks (e.g., land subsidence, submarine landslides) induced by production is limited. Future work should establish “micro-macro” cross-scale parameter models, refine elastoplastic constitutive models for clayey silt sediments, and develop integrated geological engineering simulation tools to advance simulation technologies from mechanistic interpretation to engineering decision support.