This comprehensive review critically evaluates the evolving role of hybrid AC/DC power systems in modern energy landscapes, emphasizing their pivotal function in integrating both renewable and conventional power sources. As the integration of renewable resources scales up, optimizing operational efficiency and stability becomes increasingly challenging. This review delves into the advanced optimal power flow (OPF) strategies that not only improve load distribution and energy efficiency but also enhance the reliability and resilience of power grids. By exploring various OPF methodologies, including conventional, probabilistic, and security-constrained OPF, this study underscores the importance of innovative approaches to ensure economic, safe, and reliable grid operations under complex and dynamic energy demands.