Condition assessment of medium voltage assets is essential to ensure reliability and costeffective operation of power distribution networks. This article presents a literature review of condition assessment of medium voltage assets related to a distribution system in a noninterconnected zone in Colombia, namely, power transformers, photovoltaic systems, switchgear, lines and cables, and instrument transformers. Advanced search rules are formulated to obtain bibliographic records of relevant academic literature from the database Scopus. The retrieved data are analyzed quantitatively to provide insights on the current state of research on the topic. Next, the most relevant academic papers for each medium voltage asset are selected and analyzed in a critical review along with more diverse literature including standards, technical reports, and white papers obtained through complementary searches. The results of the review show that several approaches have been formulated for condition assessment of medium voltage assets, ranging from traditional diagnostic methods to advanced artificial intelligence-based approaches. Moreover, research on some assets is already mature including power transformers, and photovoltaic systems, whereas other assets have been incipiently studied such as distribution and instrument transformers. Therefore, the need for deeper condition assessment research for these critical assets is highlighted. Research gaps are identified in the standardization and integration of condition assessment tools for distribution system operators.