diff --git a/src/models/__init__.py b/src/models/__init__.py
new file mode 100644
index 0000000..e69de29
diff --git a/src/models/router.py b/src/models/router.py
new file mode 100644
index 0000000..8ddb374
--- /dev/null
+++ b/src/models/router.py
@@ -0,0 +1,28 @@
+"""
+Models router.
+OpenAI-compatible /v1/models endpoint.
+"""
+import logging
+
+from fastapi import APIRouter
+
+from src.models import service
+from src.models.schemas import ModelsResponse
+
+logger = logging.getLogger(__name__)
+
+router = APIRouter(prefix="/models", tags=["models"])
+
+
+@router.get("", response_model=ModelsResponse)
+async def list_models() -> ModelsResponse:
+    """
+    List available models (OpenAI-compatible).
+    
+    Currently returns mock model list.
+    
+    Returns:
+        List of available models
+    """
+    logger.info("Listing available models")
+    return await service.list_models()
diff --git a/src/models/schemas.py b/src/models/schemas.py
new file mode 100644
index 0000000..bb450f8
--- /dev/null
+++ b/src/models/schemas.py
@@ -0,0 +1,18 @@
+"""
+OpenAI-compatible models schemas.
+"""
+from src.core.models import CustomBaseModel
+
+
+class Model(CustomBaseModel):
+    """OpenAI-compatible model object."""
+    id: str
+    object: str = "model"
+    created: int
+    owned_by: str = "system"
+
+
+class ModelsResponse(CustomBaseModel):
+    """OpenAI-compatible models list response."""
+    object: str = "list"
+    data: list[Model]
diff --git a/src/models/service.py b/src/models/service.py
new file mode 100644
index 0000000..b362d68
--- /dev/null
+++ b/src/models/service.py
@@ -0,0 +1,34 @@
+"""
+Models service.
+Currently returns mock model list.
+TODO: Fetch from Ollama in future.
+"""
+import time
+
+from src.models.schemas import Model, ModelsResponse
+
+
+# Mock models (will be replaced with Ollama models later)
+MOCK_MODELS = [
+    {"id": "mistral-nemo:latest", "created": int(time.time())},
+]
+
+
+async def list_models() -> ModelsResponse:
+    """
+    List available models (mock implementation).
+    
+    Returns:
+        Mock list of models
+    """
+    models = [
+        Model(
+            id=model["id"],
+            object="model",
+            created=model["created"],
+            owned_by="system",
+        )
+        for model in MOCK_MODELS
+    ]
+    
+    return ModelsResponse(object="list", data=models)