This paper reviews recent developments in physics-based synthesis of piano. The paper considers the main components of the instrument, that is, the hammer, the string, and the soundboard. Modeling techniques are discussed for each of these elements, together with implementation strategies. Attention is focused on numerical issues, and each implementation technique is described in light of its efficiency and accuracy properties. As the structured audio coding approach is gaining popularity, the authors argue that the physical modeling approach will have relevant applications in the field of multimedia communication.