Anxiety and depression are the most common psychological issues experienced by students during the COVID‐19 pandemic. Mindfulness has been suggested as a potential solution to these issues; however, limited studies have evaluated its effectiveness. This study aimed to synthesize experimental studies that measure the effectiveness of mindfulness in reducing student anxiety and depression during the COVID‐19 pandemic. A comprehensive systematic search across 11 databases was conducted from inception to September 9, 2024. The quality of the included studies was assessed using the Joanna Briggs Institute checklists. A random‐effects model with a standardized mean difference (SMD) was employed to determine the effect sizes. Thirty‐one experimental studies reported on anxiety, and 24 reported on depression. The overall effect size was moderately significant for reducing anxiety (SMD = −0.71, 95% CI = −1.02 to −0.39, p < 0.0001) and depression (SMD = −0.53, 95% CI = −0.81 to −0.25, p = 0.0002). These findings can inform policies regarding the application of mindfulness for students facing psychological challenges due to educational‐related crises. Further high‐quality studies are essential to determine the true impact of mindfulness.