Gravitational waves emitted from the coalescence of neutron star binaries open a new window to probe matter and fundamental physics in unexplored, extreme regimes. To extract information about the supranuclear matter inside neutron stars and the properties of the compact binary systems, robust theoretical prescriptions are required. We give an overview about general features of the dynamics and the gravitational wave signal during the binary neutron star coalescence. We briefly describe existing analytical and numerical approaches to investigate the highly dynamical, strong-field region during the merger. We review existing waveform approximants and discuss properties and possible advantages and shortcomings of individual waveform models, and their application for real gravitational-wave data analysis.
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