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The hippocampal region, a group of brain structures important for learning and memory, has been the focus of a large number of computational models. These tend to fall into two groups: (1) models of the role of the hippocampal region in incremental learning, which focus on the development of new representations that are sensitive to stimulus regularities and environmental context; (2) models that focus on the role of the hippocampal region in the rapid storage and retrieval of episodic memories. Rather than being in conflict, it is becoming apparent that both approaches are partially correct and might reflect the different functions of substructures of the hippocampal region. Future computational models will help to elaborate how these different substructures interact. [Copyright &y& Elsevier]