Reliable estimates of the carbon present in stands of oil palm, both in the palms themselves and in other biomass components of oil palm plantations, are crucial for assessing the net greenhouse gas (GHG) balance and carbon footprint of palm oil production. Carbon sequestered during the growth of the oil palm crop generally represents the largest item of the oil palm GHG budget, being second in magnitude only to land use change (LUC) or, for crops grown on peat soil, to microbial peat oxidation. In this article, alternative models available for assessing carbon stocks and carbon sequestration in oil palm plantations are examined taking into account factors such as palm age, planting density and soil type. Both linear and non-linear models are discussed and the crop and plantation components contributing to them are reviewed, as is the methodology used, which may involve destructive or non-destructive techniques, or a combination of both. Guidance is given for selecting the most appropriate model.