Current business challenges mean that understanding elements that can affect organizational performance represents a differential factor in maintaining competitiveness. In this context, the objective of this article is to conduct a Systematic Literature Review (SLR) of the relationship between dynamic capabilities, strategic behavior, and organizational performance. For this, A three-stage SLR protocol was used: (i) planning, (ii) conduct, and (iii) knowledge development. A total of 118 articles covering the publication period of 2006–2021 were included, which evidenced: (i) the grouping of words into three classes: “Knowledge Management,” “Measurement Instrument,” and “Organizational Environment”; (ii) the methodological framework; (iii) directions for future research. The findings reinforce the importance of the theoretical, methodological, and empirical relationship between the three constructs. Furthermore, the results indicate the relationship between the set of terms selected in each class, highlighting the strong connection between dynamic capabilities and competitive intensity. The main findings of the research show that organizations can expand or modify their processes by building and using dynamic capabilities as institutional factors, shaping strategic behavior to advance better performance.