In the paper the problem of modelling thermal properties of semiconductor devices with the use of compact models is presented. This class of models is defined and their development over the past dozens of years is described. Possibilities of modelling thermal phenomena both in discrete semiconductor devices, monolithic integrated circuits, power modules and selected electronic circuits are presented. The problem of the usefulness range of compact thermal models in the analysis of electronic elements and circuits is discussed on the basis of investigations performed in Gdynia Maritime University.