International competition, particularly in the forest products industry, is constantly increasing; even the largest companies have had to adapt to keep their market share. A successful strategy, for enterprises to remain competitive, is to establish collaborations with other business entities in order to access new markets and satisfy customer demand. The goal of this paper is to investigate the relevance of collaboration in the forest products industry via a systematic literature review method and explore the proposed collaboration mechanisms, main drivers, benefits, facilitators, and challenges of collaboration. A total of 70 articles were reviewed and results demonstrate the importance of collaboration in the forest products industry. Joint practices and contractual and economic practices are among the most popular collaboration mechanisms identified. Furthermore, lack of trust and developing a win-win collaboration condition seem to be the key challenges in this industry. On the other hand, cost based strategy, sustainability and environmental performance, and competition are among the principal drivers and benefits faced by the sector. Finally, financial incentives, bonuses and subsidies are the most important facilitators. A framework for inter-firm collaboration in the forest products supply chain is proposed in order to help firms identify the best-fit collaborative mechanisms for their particular collaborative initiative.