Due to the extension of the power grid with many complex and compact pieces of power equipment, transformers will be more exposed to fast transient, resulting from various resonance conditions. Transformer resonance can result in severe overvoltage on internal parts of the winding, leading to insulation failure and, consequently, transformer outage. The main reasons for resonance occurrence, the practical method to measure the resonance of transformers, and the solution for preventing transformer resonances have been discussed in the scientific reports over the past few decades; however, a comprehensive review of these studies is not present in the literature. Hence this paper aims to provide a comprehensive review to categorize the main reasons for transformer resonance, modeling methods, and appropriate solutions to suppress this phenomenon and suggest some prospective protection for future works.