Existing literature reflects that VR technology is widely used in language learning settings. Although many studies have identified the multiple benefits and affordance of Virtual Reality (VR) technologies in language learning, most studies are qualitative studies that do not provide substantial evidence to investigate the impact of this technology on language learning. To this end, this study conducted a meta-analysis of 21 quantitative studies with 1144 participants published between 2010 and 2021. The study’s main purpose was to examine the effects of VR on students’ language learning academic performance, including linguistic gains and affective gains. The results indicated that VR-assisted language learning had a medium effect on the linguistic gains (Hedges’ g = 0.662, 95% CI [0.398–0.925], p < 0.001) and affective gains (Hedges’ g = 0.570, 95% CI [0.309–0.831], p < 0.001) of students compared to non-VR conditions, respectively. Furthermore, the study further analyzed the impact of several moderator variables such as education levels, hardware types, language skills, target language, and L1/L2 on language learning gains. The research indicates that VR technology has a great potential to improve language learning as an educational resource and provides suggestions for further research and practice on the use of VR-assisted language learning.