Prescribed fires are one of the most effective tools to reduce the risk of wildfires but this treatment may negatively affect the hydrological and erosive response of soil, with noticeable increases in surface runoff and soil erosion. Many studies have been published on this matter but there is no consensus in the literature on the magnitude and duration of these effects since the relevant hydrological conditions are site‐specific. Moreover, the relationship between post‐fire hydrology and its main environmental drivers has been little explored. This study has carried out a bibliographic review and a meta‐analysis of the changes resulting from prescribed fire applications (water infiltration, soil water repellency (SWR), surface runoff and soil erosion) using a database of 85 case studies from 41 academic papers that have been published over the last 23 years. The effects of annual precipitation, soil slope, burn severity, fire application season, post‐fire ground cover, and vegetation type on those changes have also been statistically explored. The bibliographic review has revealed that previous case studies have not been equally distributed across the globe but concentrated in only a few countries, mainly the United States and Spain. The meta‐analysis has revealed that (i) water infiltration generally decreases and SWR appears with noticeable increases in surface runoff and soil erosion immediately after the prescribed fire, while the pre‐fire values progressively recover over time; (ii) the window of disturbance in burned soils may last a few months (with some exceptions); (iii) annual precipitation and soil slope significantly influence water infiltration and surface runoff, but not soil erosion, in both the short‐term and medium‐term; (iv) moderate‐to‐high levels of soil burn severity severely enhance surface runoff and soil erosion, and noticeably reduce water infiltration in the short‐term; (v) the level of ground cover burning is important for reducing the runoff rates, but it plays a minor role in water infiltration and soil erosion rates;and (vi) the prescribed fire applied in spring results in lower increases in short‐term runoff and erosion, while fire applications in summer and in shrublands produce the highest increases in soil loss. The following practical recommendations arise from this study: (i) research should be better distributed across all environmental contexts on a global scale; (ii) post‐fire management actions should be immediately implemented after the prescribed fire application; (iii) prescribed fire should be carried out in spring and the soil burn severity should be kept low during burning; (iv) the monitoring studies should be prolonged at least for some years (more than two or three) after prescribed fire; (iv) the catchment‐scale investigations, although more difficult and expensive, should be encouraged (avoiding, however, areas to sparsely burnt in the context of the whole catchment); (v) the monitored variables should also include the most important physical, chemical and biological properties of soil, the cover and structure of regenerating vegetation, as well as the water quality parameters; (vi) the effects of repeated applications of prescribed fire should be experimentally assessed; and (vii) guidelines for standardized and appropriate measurements and analytical methods in experimental activities should be set up. These indications support the use of land managers in the monitoring of the hydrological impacts of the prescribed fire and in the choice of sites where post‐fire management actions must be implemented. The last recommendation of this study is the creation of an experimental database supporting the bibliographic review and the meta‐analysis, which is made available to other researchers and land managers, to create a public, easily‐accessible and comprehensive tool for future research needs and professional use.