Visual backward masking not only is an empirically rich and theoretically interesting phenomenon but also has found increasing application as a powerful methodological tool in studies of visual information processing and as a useful instrument for investigating visual function in a variety of specific subject populations. Since the dual-channel, sustained-transient approach to visual masking was introduced about two decades ago, several new models of backward masking and metacontrast have been proposed as alternative approaches to visual masking. In this article, we outline, review, and evaluate three such approaches: an extension of the dual-channel approach as realized in the neural network model of retino-cortical dynamics (Ogmen, 1993), the perceptual retouch theory (Bachmann, 1984, 1994), and the boundary contour system (Francis, 1997; Grossberg & Mingolla, 1985b). Recent psychophysical and electrophysiological findings relevant to backward masking are reviewed and, whenever possible, are related to the aforementioned models. Besides noting the positive aspects of these models, we also list their problems and suggest changes that may improve them and experiments that can empirically test them.