Previous studies have shown that burnout negatively affects athletes’ mental health. To further explore this subject, we conducted a systematic review and meta-analysis by combining data from previous studies. This study followed the PRISMA guidelines for systematic and reliable research and completed data extraction using 10 databases and 8 keywords in December 2021. There were 93 cases of initially extracted data from the selected articles (n = 14) and the meta-analysis was conducted using the “meta” package, version 4.8-4 of R Studio 3.3.3, with data (k = 77) excluding other-oriented perfectionism data (k = 16). The results showed that self-oriented perfectionism had a negative effect on sports devaluation (SD) (ESr = −0.246, p < 0.001), and socially prescribed perfectionism had a positive effect on emotional/physical exhaustion (ESr = 0.150, p < 0.05) and SD (ESr = 0.138, p < 0.05). Furthermore, the test for publication bias showed that no groups had asymmetrical data, and four moderator analyses were conducted to prove the heterogeneity (I2) of the total effect size; however, there was no difference among groups (QB), thereby resulting in unexplained variance. Consequently, this study presents variable data that determine the effects of perfectionism and burnout on elite athletes.