To examine the relationship between bullying and other forms of peer victimization in adolescence and alcohol use or misuse, all the pertinent studies were reviewed. Fourteen databases were searched. Blind assessments of study eligibility and quality were performed by two independent researchers. Seventy-four studies including 2,066,131 participants across 56 countries all over the world and meeting minimum quality criteria that were enough to ensure objectivity and to not invalidate results were analyzed. Across studies, evidence for a significant association between peer victimization and alcohol use or misuse was conflicting. Results were affected by sample size, definition of victim status, specific forms of peer victimization, and specific types of alcohol consumption. There was some evidence for a number of mediating or moderating variables, such as depression, coping, drinking motives, attachment to school, social support, and gender. Findings are discussed according to stress-coping and self-medication hypotheses. Alternative etiological mechanisms are also considered.