I am curious to know the Ising model can be applied to high temperature superconducting materials. If so are there any papers significant papers on this subject that I should know about. Thanks to anyone in advance who can answer this question.
I doubt it. The Ising model is too simple to give realistic results, generally people use the Heisenberg model instead. It might be a reasonable approximation for the undoped antiferromagnetic phase of HTSC's but since the Ising model doesn't include any terms for allowingelectrons to move around the lattice, it would not be helpful for describing a conducting state, let alone a superconducting state. There are several recent papers which calculate exchange constants for the iron arsenide superconductors, such as Phys. Rev. Lett. 102, 107003 (2009).
Actually the Ising model has quite some significance for the high temperature superconducting materials - though not for a description of high temperature superconductivity. The two dimensional asymmetric next-nearest neighbor Ising model (ASYNNNI) is widely used to describe the oxygen ordering in the YBCO type of high-Tc cuprates. Just do a literature search for it.