Aim The present study aimed to evaluate the effects of life review interventions on psychosocial outcomes among older adults. Methods We searched PubMed, Ovid, CINHAL, Cochrane library, PsycINFO, Springer Link, Oxford Journals Collection, FRMS, CBM, VIP, CNKI, and Wanfang to identify randomized controlled trials and controlled clinical trials that evaluate the effects of life review among older adults. The quality of studies included was evaluated and the relevant information was extracted. Then, a meta‐analysis was carried out with RevMan software. Results We identified 15 studies that met the inclusion criteria, and 11 studies were allowed for meta‐analysis. The combined results of the meta‐analysis showed that life review significantly reduced depression (standardized mean difference 0.57, 95% CI 0.73 to –0.42) and hopelessness (mean difference [MD] 4.01, 95% CI 6.13 to –1.89). There was a significant improvement in well‐being (standardized mean difference 0.54, 95% CI 0.01–1.06) and specific memory (MD 1.05, 95% CI 0.07–2.03). However, other study findings did not support its effect in life satisfaction (MD 2.15, 95% CI 0.69– 5.00), self‐esteem (MD 0.21, 95% CI 2.09–2.50), the quality of life (standardized mean difference 0.15, 95% CI 0.96–0.66), extended memory (MD 0.03, 95% CI 0.61–0.55), categorical memory (MD 0.48, 95% CI 1.08– 0.12) and no recall (MD 0.30, 95% CI 1.12– 0.52). Conclusions Life review is a worthwhile intervention for reducing depression and hopelessness, and improving quality of life, well‐being and specific memory in older adults. More well‐designed trials with a large sample and long‐term follow up are necessary to confirm the effects of life review on other psychosocial outcomes. Geriatr Gerontol Int 2017; ••: ••–••.