Youth experiencing systemic oppression(s) face heightened challenges to wellbeing. Critical consciousness, comprised of reflection, motivation, and action against oppression, may protect wellbeing. Wellbeing here refers to mental, socioemotional, and physical health. The aim of this systematic review was to synthesize research on the relationship between critical consciousness and wellbeing among adolescents and young adults (ages 12–29). Five databases (PsycInfo, PsychArticles, ERIC, Sociological Abstracts, and PubMed) were searched systematically using keyword searches and inclusion/exclusion criteria; 29 eligible studies were included. Results demonstrated that the critical consciousness and wellbeing relationship varied by critical consciousness dimension and age. The studies of adolescents most often focused on racial/ethnic marginalization and found critical motivation most strongly associated with better wellbeing. The studies of young adults focused on young adult college students and identified mixed results specifically between activism and mental health. Study methods across age spans were primarily quantitative and cross-sectional. Research on critical consciousness and wellbeing can benefit from studies that consider multiple critical consciousness dimensions, use longitudinal approaches, and include youth experiencing multiple and intersecting systems of privilege and marginalization.