The Lauraceae family is predominantly found in Asia and in the rainforests of the Americas, and consists mostly of aromatic trees. Being an essential oil producer, this family is used in the food, pharmaceutical, and cosmetic industries. This work presents a systematic review of the chemical composition and bioactivity of the essential oils from the Lauraceae family. Medline, Scielo, Web of Science, Lilacs, and Scopus were employed to identify articles published between 2000 and 2018, using “Lauraceae”, “essential oil”, and “biological activity” as key words. From 177 studies identified, 53 met the inclusion criteria. These studies indicated a predominance of the compounds β-caryophyllene and 1,8-cineole in Lauraceae species, and highlighted the antioxidant, antifungal, antibacterial, and anti-inflammatory activities. Essential oils extracted from this family thus have high potential for pharmacological applications.