Oscillators are key components of many kinds of systems, particularly electronic and opto‐electronic systems. Undesired perturbations, i.e. noise, that exist in practical systems adversely affect the spectral and timing properties of the signals generated by oscillators resulting in phase noise and timing jitter. These are key performance limiting factors, being major contributors to bit‐error‐rate (BER) of RF and optical communication systems, and creating synchronization problems in clocked and sampled‐data electronic systems. In noise analysis for oscillators, the key is figuring out how the various disturbances and noise sources in the oscillator end up as phase fluctuations. In doing so, one first computes transfer functions from the noise sources to the oscillator phase, or the sensitivity of the oscillator phase to these noise sources. In this paper, we first provide a discussion explaining the origins and the proper definition of this transfer or sensitivity function, followed by a critical review of the various numerical techniques for its computation that have been proposed by various authors over the past fifteen years.