Corrosion of the reinforcement affects more than the cross-sectional area of the rebar. The volume of steel also increases due to expansive corrosion products, leading to the cracking, delamination, and spalling of concrete. As a result, the bond capacity between concrete and rebar is affected. Researchers have extensively examined the impact of corrosion on the bond strength between concrete and rebar to propose empirical, theoretical, or numerical predictive models. Therefore, research programs on this topic have increased rapidly in recent years. This article presents a systematic literature review to explore experimental methods, outcomes, and trends on this topic. The Web of Science search collected 84 relevant research articles through a rigorous selection. Key factors that affect bond strength degradation, including concrete cover, concrete strength, and stirrups, have been documented. However, a general model is still unavailable due to discrepancies caused by differences in testing methods to evaluate the effect of corrosion on bond strength. Furthermore, researchers attempted to clarify the degradation mechanism of bond strength affected by corrosion. As a result, new alternatives have been proposed to build a practical model to assess the bond strength deterioration of corroded structures.