The association between cardiovascular disease and depression is well-established. Peripheral arterial disease arises from atherosclerosis like other cardiovascular disease, but unlike other cardiovascular disease, it impairs ambulation and lower extremity function. Given peripheral arterial disease's unique characteristics and underrepresentation in mental health research, we aimed to: (a) assess the prevalence of depression or depressive symptoms among peripheral arterial disease patients compared to coronary artery disease rates, (b) assess whether an independent association between peripheral arterial disease and depression exists, and (c) identify associated factors that may be targeted for intervention. This study was based on a systematic review. Electronic databases were searched to identify studies that examined peripheral arterial disease and depression or depressive symptoms. Methodological quality was assessed using the Newcastle-Ottawa Scale. We identified 28 studies. Prevalence of depression or depressive symptoms ranged from 11-48% in 12 cross-sectional studies, and from 3-36% in 16 longitudinal studies, which is comparable to reported coronary artery disease rates. Depressed peripheral arterial disease patients were more likely to be female, African American, and have more severe peripheral arterial disease symptoms and more compromised physical function compared to non-depressed patients. There is evidence to suggest that depression exerts a negative influence on walking ability and physical function independently of peripheral arterial disease. There is a critical need to address depression in peripheral arterial disease patients, particularly those with characteristics that place them at increased risk. Vascular care providers appear to be the primary contact for assessing depressive symptoms, and once identified, integrated mental health providers may intervene to prevent the worsening of both depression and peripheral arterial disease.