With the increasing attention paid to sustainable development around the world, improving energy efficiency and applying effective means of energy saving have gradually received worldwide attention. As the largest energy consumers, manufacturing industries are also inevitably facing pressures on energy optimization evolution from both governments and competitors. The rational optimization of energy consumption in industrial operation activities can significantly improve the sustainability level of the company. Among these enterprise activities, operation and maintenance (O&M) of manufacturing systems are considered to have the most prospects for energy optimization. The diversity of O&M activities and system structures also expands the research space for it. However, the energy consumption optimization of manufacturing systems faces several challenges: the dynamics of manufacturing activities, the complexity of system structures, and the diverse interpretation of energy-optimization definitions. To address these issues, we review the existing O&M optimization approaches with energy management and divide them into several operation levels. This paper addresses current research development on O&M optimization with energy-management considerations from single-machine, production-line, factory, and supply-chain levels. Finally, it discusses recent research trends in O&M optimization with energy-management considerations in manufacturing systems.