Olfaction is understudied in neuroimaging research compared to other senses, but there is growing evidence of its therapeutic benefits on mood and well-being. Olfactory imagery can provide similar health benefits as olfactory interventions. Harnessing crossmodal visual-olfactory interactions can facilitate olfactory imagery. Understanding and employing these cross-modal interactions between visual and olfactory stimuli could aid in the research and applications of olfaction and olfactory imagery interventions for health and wellbeing. This review examines current knowledge, debates, and research on olfaction, olfactive imagery, and crossmodal visual-olfactory integration. A total of 56 papers, identified using the PRISMA method, were evaluated to identify key brain regions, research themes and methods used to determine the suitability of fNIRS as a tool for studying these topics. The review identified fNIRS-compatible protocols and brain regions within the fNIRS recording depth of approximately 1.5 cm associated with olfactory imagery and crossmodal visual-olfactory integration. Commonly cited regions include the orbitofrontal cortex, inferior frontal gyrus and dorsolateral prefrontal cortex. The findings of this review indicate that fNIRS would be a suitable tool for research into these processes. Additionally, fNIRS suitability for use in naturalistic settings may lead to the development of new research approaches with greater ecological validity compared to existing neuroimaging techniques.