["Business Strategy and the Environment, EarlyView. ", "\nABSTRACT\nGrowing environmental pressures and resource constraints have intensified interest in circular strategies as an alternative to traditional linear business thinking. Although circular practices, often framed through R‐strategies such as repair, reuse, and recycling, are increasingly adopted to enhance sustainability and competitive advantage, conceptual ambiguities persist regarding their strategic foundations and relationship to business models. To address these gaps, this study employs the SPAR‐4‐SLR framework to systematically review 81 publications indexed in Scopus and Web of Science, examining the meaning, theoretical underpinnings, drivers, organizational contexts, and outcomes of circular strategies. Using in‐depth content analysis and an adapted theories–context–methods (TCM) framework, the review maps how circular strategies are conceptualized, identifies the theories underpinning their implementation, and examines the contextual factors influencing their adoption. It also synthesizes evidence on the tools and methods used to implement circular strategies, as well as the outcomes associated with their adoption. Furthermore, the study highlights inconsistencies in terminology that may bias future research and outline avenues for both theoretical and managerial advancement. As the first comprehensive synthesis of circular strategies from a strategic management perspective, this review provides clarity and direction for scholars and practitioners alike.\n"]