This review aimed at summarizing the literature evidence on clinical, cognitive, and neurobiological correlates of impaired timing abilities in schizophrenia (SCZ). Following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses guidelines, a systematic literature search was conducted in PubMed, EMBASE, and PsycInfo by looking at correlates between timing abilities and either symptom severity, cognition, and neurobiological data (imaging and electroencephalography) in individuals with SCZ, without restrictions on study design. A total of 45 articles were selected: associations were identified between impaired timing performance and positive, negative, and disorganization symptoms, as well as with executive functioning, working memory, and attention. Timing impairments were associated with altered motor coordination neural circuits. Despite high methodological and clinical heterogeneity, timing dysfunction may be associated with the symptom severity and cognitive impairments in SCZ. Further studies are needed to clarify the pathophysiology of this association and offer new therapeutic targets.