The primary purpose of this study was to systematically review the literature regarding the characteristics, use, and implementation of an emerging assessment methodology, "SRL microanalysis." Forty-two studies across diverse samples, contexts, and research methodologies met inclusion criteria. The majority of studies used microanalysis to either comprehensively address all three phases of SRL (i.e., forethought, performance, or reflection) or to conduct in-depth analyses of one particular phase. Microanalysis has also been used across myriad domains (e.g., academic, athletic, clinical) and tasks (e.g., mathematics problem solving, basketball shooting, diagnostic reasoning) with samples encompassing elementary to graduate school. Although SRL microanalysis has typically been used to differentiate intervention conditions or existing groups (e.g., expert vs. novice), it has increasingly been used as a diagnostic tool to inform instructional and intervention planning. Additional information regarding the types of validity addressed in the studies are discussed, as well as implications for research and school practice.