Technological advancements have posed a challenge to educational institutions in the sustainability of management, research and teaching activities. Virtual technologies have allowed digital transformation to be incorporated into university education—among them, augmented reality (AR). The study examined the evolution of global research on this topic in the period 2005–2019. A bibliometric analysis of 1977 articles was performed, obtaining results of scientific productivity. The evidence showed a growing interest in studying the sustainability of AR in higher education. According to the results, the main category was computer science; the most productive journal was Computer and Education; the authors with the largest number of publications were Nee and Ong, while Wang was the most frequently cited author; the most productive institution was the National Taiwan University of Science and Technology; the United States was the country with the largest number of publications and citations; and, finally, the United States and Spain were the countries with the largest number of international collaborations in their articles. Five lines of research were identified, among which those oriented to the topics of technological resources, computer, simulation, education and learning stand out. It was verified that this research topic has a growing and dynamic interest in scientific activity, and its sustainable approach is confirmed by being linked to the Sustainable Development Goals (SDGs).