An induction motor is the most frequently used electric machine in high-performance drive applications. Control schemes of such drives require an exact knowledge of at least some of the induction motor parameters. Any mismatch between the parameter values used within the controller and actual parameter values in the motor leads to a deterioration in the drive performance. Numerous methods for induction machine on-line and off-line parameter estimation have been developed exclusively for application in high-performance drives. This paper aims at providing a review of the major techniques used for the induction motor parameter estimation. The paper is illustrated throughout with experimental and simulation examples related to various parameter estimation techniques.