This paper reviews the recent research of carbon nanotubes (CNTs) used as nanomechanical sensing elements based mainly on theoretical models. CNTs have demonstrated considerable potential as nanomechanical mass sensor and atomic force microscope (AFM) tips. The mechanical and vibrational characteristics of CNTs are introduced to the readers. The effects of main parameters of CNTs, such as dimensions, layer number, and boundary conditions on the performance characteristics are investigated and discussed. It is hoped that this review provides knowledge on the application of CNTs as nanomechanical sensors and computational methods for predicting their properties. Their theoretical studies based on the mechanical properties such as buckling strength and vibration frequency would give a useful reference for designing CNTs as nanomechanical mass sensor and AFM probes.