The purpose of this research is to perform a systematic review of the literature published on the benefits of applying the service-learning methodology with business students. Several works and studies identify significant contributions that are important to the student’s profile; however, a systematic review of the benefits derived from the methodology application in the profile previously described has not yet been conducted. The main objective of this study is to gather, identify, and classify evidence from 32 studies conducted across global business schools regarding the benefits of service-learning in university students. The applied methodology follows the “Preferred Reporting Items for Systematic Reviews and Meta-Analyses” statement for systematic reviews. The studies were extracted from the World of Science, Scopus, and Educational Resource Information Center databases and were analyzed according to the suggested objectives. The suggested systematic review provides a rigorous analysis of academic literature on the benefits of service learning in the student’s personal, social, academic, and civic environment. A theoretical framework that combines all gathered benefits from the 32 studies has been suggested in these pages, by means of grouping these benefits into four categories considering prior research on the academic, personal, social, and citizenship outcomes. Several quantitative, qualitative, and mixed studies support the benefits of this methodology, focusing on the student’s profile development. We found that students enjoy plenty of outcomes after participating in the service-learning experience, thus, the most frequent outcome is greater social engagement. With more than 4,000 students involved in the total analyzed studies, we present a list of ranked outcomes that reflects and supports the strength of the methodology. Through this study, institutions as well as teachers may be aware of the potential present in this methodology. Our study also suggested a framework for university coordinators to act.