This study aims to present a literature review on the phenomenon of higher education co-creation, converging the marketing and management literature with the education literature. We used the systematic literature review (SLR) methodology, resulting in the analysis of 61 articles obtained from the "Scopus" and "Web of Science" databases. Results identified five themes in higher education co-creation: (1) student's role in higher education service and management; (2) expectations of the educational service value; (3) barriers and facilitators of co-creation; (4) impacts and benefits of co-creation; and (5) tools and practices to foster co-creation. Based on the literature review and the service-dominant logic (S-D logic), we identified that co-creation in higher education involves both services co-creation (service as output) and value co-creation, leading us to propose a differentiation of these concepts. The paper also contributes by identifying a conceptual framework to analyse the phenomenon and the presentation of future research directions.