This open access book provides a thorough introduction to modeling turbulent, dispersed, two-phase flows. It explains the physical phenomena and governing laws at play, followed by a clear and systematic overview of the statistical tools used to develop simplified or coarse-grained models. With a pedagogical approach, the book uses practical examples to explain complex physical processes and stochastic methods, making it accessible to readers familiar with basic courses in statistical physics and applied mathematics. It also highlights emerging research areas and unexplored challenges in the field. Designed as a self-contained resource, this book is ideal for graduate students and junior researchers in various branches of physics. At the same time, it serves as a valuable reference for experts seeking deeper insights into turbulent, dispersed, two-phase flows.