This study presents a systematic review of the last 25 years' literature and offers a comprehensive understanding of the ecotourism experience. The study uses a Theory‐Context‐Characteristics‐Method (TCCM) framework, offering insights that ecotourism experience research has advanced beyond ecotourism sites and resources to a multi‐stakeholder approach. As a result, we have developed a conceptual framework illustrating three consumption stages of ecotourism, that is, pre‐visit, on‐site and post‐visit. The study concludes by identifying some neglected areas and suggesting some future research directions in ecotourism experience field. Lastly, several theoretical and practical implications are presented that could aid the ecotourism industry in overcoming ecotourists' inertia toward site visits.