We explored the state of the art economic and livelihood valuation of ecosystem services (ES) in the Sundarbans mangroves, including a comparative analysis between the Bangladesh and Indian parts of the region. We identified 145 values from 26 studies to estimate the Sundarbans’ economic and livelihood values. The number of ES valuation studies of the Sundarbans is scant, and it has gradually increased over time, focusing mainly on the estimation of provisioning ES (66.2%), followed by regulating and maintenance (25.5%), and cultural (8.3%) ES. However, recently, attention has been paid to estimation, regulating and maintenance, and cultural ES. The number of studies on ES was higher for the Bangladesh (73%) part of the Sundarbans than the Indian (27%) one. The estimated economic values of the Sundarbans’ provisioning, regulating and maintenance, and cultural ES were US $ 713.30 ha−1 yr−1, US $ 2584.46 ha−1 yr−1, and US $ 151.88 ha−1 yr−1, respectively. Except for cultural ES, the identified values for the other two ES categories were about 1.5 to 2.5 times higher for the Bangladesh Sundarbans compared to the Indian ones. The results of the meta-regression model showed that the estimated economic and livelihood values of ES are affected by the associated variables (e.g., type of ES, valuation methods, study area, population, and GDP). Our study also identified some remarkable gaps and limitations in the economic and livelihood valuation of the ES of the Sundarbans, highlighting the need for further research to find out the values of all ES to help with policy decision-making.