Graph partitioning plays vital role in solving application problems like social network, road network,scientific simulation, air traffic control, image analysis and for many other purposes. Despite manyyears of research and significant contributions, graph partitioning is still a very challenging task to suitfor variety of applications. Among the different partitioning approaches, metaheuristic techniques aremost popular due to their capabilities of generating balanced partitioning structures. This paper indepth explains graph partitioning methods along with their detailed analysis. The study and evaluationis useful in improving the performance of existing methods as well as helpful in the development ofnew methods.