The primary seismic force-resisting system (SFRS) in middle- to high-rise reinforced concrete (RC) building structures often includes coupled shear walls (CSWs) and single shear walls (SSWs). These walls are designed to transfer lateral forces to the foundation and dissipate energy through the development of plastic hinges. The latter lead to residual displacement in these structural components. On the other hand, self-centering systems enable the structures to return to their initial position after severe loading or at least reduce residual displacement. The objectives of this study were, therefore, as follows: (i) to review the state of the art on shear wall self-centering techniques and retrofitting methods based on externally bonded fiber-reinforced polymer (EB-FRP); (ii) to evaluate research needs to improve the self-centering ability of shear walls using EB-FRP.