The Posttraumatic Stress Disorder (PTSD) Checklist for the Diagnostic and Statistical Manual of Mental Disorders, fifth edition (DSM–5; PCL–5) is a widely used self-rated measure of DSM–5 PTSD symptoms. The goal of this systematic review was to synthesize research on the psychometric properties of the PCL–5 to guide clinical and research applications. We focused on reliability, validity, factor structure, optimal cutoff scores, and sensitivity to clinical change indices. A systematic review of the literature following Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines was conducted using PubMed, PsycINFO, CINAHL, and PTSDpubs with search terms capturing selected psychometric indices of the PCL–5. The inclusion criteria were: peer-reviewed publication in English; primary focus on the PCL–5 psychometrics; empirical study; and study with adult samples. The search yielded 265 studies; 56 articles (amounting to 64 studies) met inclusion criteria and were reviewed. Findings generally indicated evidence for: acceptable internal consistency and test–retest reliability; construct validity; a seven-factor Hybrid Model; recommended cutoff scores between 31 and 33; and ability to index sensitivity to clinical change. To further advance knowledge and applications of the PCL–5, we need more research on abbreviated versions of the PCL–5, bi-factor modeling as applied to the PCL–5, as well as on PCL–5 item difficulty estimates, discrimination parameters, and clinical change score estimates.