The formation of single phase solid solution in High Entropy Alloys (HEAs) is essential for the properties of the alloys therefore, numerous approach were proposed by many researchers to predict the stability of single phase solid solution in High Entropy Alloy. The present review examines some of the recent developments while using computational intelligence techniques such as parametric approach, CALPHAD, Machine Learning etc. for prediction of various phase formation in multicomponent high entropy alloys. A detail study of this data-driven approaches pertaining to the understanding of structural and phase formation behaviour of a new class of compositionally complex alloys is done in the present investigation. The advantages and drawbacks of the various computational are also discussed. Finally, this review aims at understanding several computational modeling tools complying the thermodynamic criteria for phase formation of novel HEAs which could possibly deliver superior mechanical properties keeping an aim at advanced engineering applications.