Tilapia are important aquaculture species worldwide, and their production is heavily reliant on feed, therefore individual studies have been conducted to investigate the effects of soybean and seaweed-based diets on tilapia, but a comprehensive understanding of their impact on growth performance, feed utilization, and gut microbiota is lacking. This review aimed at evaluating and synthesizing the existing literature on the effects of soybean and seaweed-based diets on growth performance, feed utilization, and gut microbiota. A systematic search of databases was conducted using Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. A total of 24 studies were included in the meta-analysis, and the results showed that soybean-based diets improved specific growth rate (SGR) with an effect size of -2.14 (95% CI: -2.92, -1.37; p < 0.00001; I2 = 99%). However, soybean-based diets did not improve the feed conversion rate (FCR), as the effect size was 1.80 (95% CI: 0.72, 2.89; p = 0.001; I2 = 100%). In addition, the seaweed-based diets did not improve the SGR, as the effect size was -0.74 (95% CI: -1.70, 0.22; p = 0.13; I2 = 99%). The same results were verified for the FCR, where the effect size was -0.70 (95% CI: -1.94, 0.54; p = 0.27; I2 = 100%). In this review, no study on the effect of soybean and seaweed-based diets on the gut microbiota of tilapia met the inclusion criteria, but studies carried out on other farmed fishes showed that soybean and seaweed-based diets improved the growth of beneficial gut microbiota. The findings of this study suggest that soybean and seaweed-based diets can contribute to the sustainability of the aquaculture industry by reducing reliance on fishmeal and fish oil.