Framing is a powerful tool shaping innovation success, failure, and transformation. However, innovation framing is not recognized as a unified domain of research and the extant literature is theoretically fragmented across diverse fields. Inconsistencies in definition and operationalization of constructs stall theoretical advancement of innovation framing theory and practice. Importantly, an understanding of the underlying mechanisms enabling framing to mediate innovation outcomes has been missing. Using a systematic literature review (SLR), we integrate diverse theoretical perspectives. Stemming from this, we develop a unified conceptual framework of innovation framing. In so doing we make three vital contributions to the field. First, we develop a typology of construct categories of innovation framing, defining these framing concepts and identifying their theoretical basis. Next, we emphasize the importance of key mechanisms (sensemaking, interpretive flexibility, consensus) in explaining innovation outcomes. Our third contribution identifies innovation stage‐specific differences in the role of framing processes, frame types and characteristics, and the temporal elements of these. Finally, we discuss the implications of our research for innovation practitioners, while concluding with a detailed agenda for future innovation framing research.