In the past decade, the number of malware variants has increased rapidly. Many researchers have proposed to detect malware using intelligent techniques, such as Machine Learning (ML) and Deep Learning (DL), which have high accuracy and precision. These methods, however, suffer from being opaque in the decision-making process. Therefore, we need Artificial Intelligence (AI)-based models to be explainable, interpretable, and transparent to be reliable and trustworthy. In this survey, we reviewed articles related to Explainable AI (XAI) and their application to the significant scope of malware detection. The article encompasses a comprehensive examination of various XAI algorithms employed in malware analysis. Moreover, we have addressed the characteristics, challenges, and requirements in malware analysis that cannot be accommodated by standard XAI methods. We discussed that even though Explainable Malware Detection (EMD) models provide explainability, they make an AI-based model more vulnerable to adversarial attacks. We also propose a framework that assigns a level of explainability to each XAI malware analysis model, based on the security features involved in each method. In summary, the proposed project focuses on combining XAI and malware analysis to apply XAI models for scrutinizing the opaque nature of AI systems and their applications to malware analysis.