Although a considerable amount of research has addressed the use of building information modelling (BIM) in facilities management (FM) within the past years, there is limited systematic review on investigating the potentials of BIM within the operation and maintenance (O&M) life cycle phase. Yet, this phase could account for approximately 60% of the total life cycle costs of assets. The purpose of this paper is to conduct a systematic literature review on the application of BIM in the O&M phase to identify current research trends, research gaps and future directions. This study achieves the aforementioned purpose by adopting the preferred reporting items for systematic review and meta-analysis protocols (PRISMA-P). It employs qualitative and quantitative techniques to analyse the articles from a combination of three multi-disciplinary research databases, namely—Scopus, Web of Science and Engineering Village, which also comprises Compendex, InSpec, GeoRef and GeoBase sub-databases. After an in-depth review of 196 selected journal articles, this study systemically presents: (1) bibliometric analyses of the literature in BIM and O&M; (2) research patterns and trends; (3) drivers and barriers to BIM–O&M integration; and (4) research gaps mapped into a standard project management lifecycle to guide future research directions. The content analysis reveals that BIM has mainly been integrated under seven functions: information management (IM), advanced technology (AT), maintenance and asset management (MAM), indoor management (IM), performance assessment (PA), visualisation (V), and lean management (LM). Findings of the study reveal that the UK, USA and China are the top ranked countries with regards to research outputs on BIM–O&M integrations. The majority of BIM integrations within O&M falls under the information management function, whereas the least research output was recorded under lean management. In addition, the majority of studies focused on institutional and infrastructure facility types, but residential, industrial and commercial buildings were underrepresented, despite their disproportionate physical dominance within most societies. Findings also show that potential drivers and barriers for BIM integrations within O&M can be classified into three main categories—technical, organisational, and legal/contractual. It is then concluded that the application of BIM within O&M is still emerging, which further emphasises the need for more studies that address value realization in the context of BIM in O&M, with particular focus on the specific O&M principles for different building types.