Computational modeling of dilute turbulent two-phase flows with and without heat and mass transfer is reviewed. The two-phase flows concerned here are associated with those turbulent flows laden with particles or droplets. Moreover, mass-loading ratios considered are also small so that the particle-particle or droplet-droplet interaction can be neglected. The modelling approach is based upon the hybrid Eulerian-Lagrangian formulation. The turbulent carrier flow is formulated using the Eulerian formalism and the dispersed particle/droplet phase flow is formulated using the Lagrangian formalism. Particular attention is paid to the development of the particle/droplet dispersion model for particulate-phase flow predictions. The two-phase flows consisting of gas particles, liquid particles and gas droplets are used for validating the developed numerical models.