Cold spray deposition, which can be framed in the wider family of additive manufacturing, is a manufacturing technique that is able to produce coatings on diverse types of substrates through the deposition of feedstock powder. As a low-temperature process, cold spray represents a potential solution for the metallization of temperature-sensitive materials, i.e. polymers and polymer matrix composites. The study of the cold spray technology for the metallization of polymers is still in its early stage, and the deposition mechanisms of metals on polymer-based materials are not thoroughly understood yet. On these premises, a review on this topic is needed to systematically depict the actual state of the art and to provide a reliable and well-organized overview discussing all the theories arisen in these years. In summary, this review aims: i) to collect all the available literature and enucleate the most discussed and interesting points (the most prevailing theories regarding the bonding mechanisms, the influence of the different process parameters and the main characteristics of cold-sprayed coating), providing a reliable and well-organized state of the art; ii) to define the open questions and to delineate the directions of future work.