Current literature mainly focused on one or two multimedia learning principles in traditional learning environments. Studies on multimedia learning principles in AR and VR environments are also limited. To reveal the current situation and gaps of the multimedia learning principles in different learning environments, it is necessary to extend their boundaries. Thus, further studies may directly affect the investment in VR and AR technologies and their integration into the learning process by teachers. The current study presented a systematic review of multimedia learning principles in different learning environments, including traditional, virtual reality and augmented reality. In this study, 136 journal articles were identified based on PRISMA guidelines and reviewed regarding multimedia learning principles, learning environments, measurements, subject matters, learning outcomes, research methodologies, education programs, education fields, and years of publication. The results indicate that (1) there is an increasing interest in multimedia learning principles; (2) undergraduate students have been the target participant group in the review studies; (3) only five studies tested one of the multimedia learning principles in the VR environment, but no studies have been conducted in the AR learning environment; (4) most studies preferred subjective measurements (e.g., mental effort, difficulty) or indirect objective measurements (e.g., learning outcomes, eye-tracking, study time); (5) subject matters from STEM fields often preferred in investigations; and (6) modality was the most studied multimedia learning principle in the reviewed articles, followed by redundancy, multimedia, signaling, coherence, segmenting, personalization, spatial contiguity, temporal contiguity, image, pre-training, and voice, respectively. The results were discussed in detail. Specific gaps in the literature were identified, and suggestions and implications were provided for further research.