The quest for finding meaning in life is central to human existence. Evidence supporting consumption as a source of meaning in life is scant and lies in discrete studies across multiple disciplines. We call consumption that engenders a sense of meaning in life ‘meaning‐oriented consumption’. In this paper we conduct a systematic literature review of 102 papers, using the Scientific procedures and rationales for systematic literature reviews (SPAR‐4‐SLR) (Paul et al. (2021). International Journal of Consumer Studies, 45(4)). We draw on the theory of meaning in life to arrive at a theoretically grounded conceptualization of meaning‐oriented consumption. We discuss the antecedents and consequences of meaning‐oriented consumption, categories and processes that make consumption meaningful. We gather insights into the relationship between hedonic and meaning‐oriented consumption. Finally, we identify knowledge gaps in theory, context, constructs and methodology. This review identifies several consumption contexts and situations that offer potential for marketers to design meaningful offerings.