This study reviews the methods used to determine the cost-effectiveness of monitoring plans for hazards in animals (diseases), plants (pests), soil, water, food, and animal feed, and assesses their applicability to food safety hazards. The review describes the strengths and weaknesses of each method, provides examples of different applications, and concludes with comments about their applicability to food safety. A systematic literature search identified publications assessing the cost-effectiveness of monitoring plans in the life sciences. Publications were classified into 4 groups depending on their subject: food safety, environmental hazards, animal diseases, or pests. Publications were reviewed according to the type of model and input data used, and the types of costs included. Three types of models were used: statistical models, simulation models, and optimization models. Input data were either experimental, historical, or simulated data. Publications differed according to the costs included. More than half the publications only included monitoring costs, whereas other publications included monitoring and management costs, or all costs and benefits. Only a few publications were found in the food safety category and all were relatively recent studies. This suggests that cost-effectiveness analysis of monitoring strategies in food safety is just starting and more research is needed to improve the cost-effectiveness of monitoring hazards in foods.