As competition for student enrollment and funding among universities increases, higher education institutions (HEI) need to critically endeavor to implement and offer high quality service experiences. Drawing on current literature on student co-creation, this paper aims at presenting a systematic review of the literature on co-creation strategies in higher education (HE) in order to map extant research on this topic and offer a consolidated view of how co-creation may contribute to creating mutual value for institutions and students. The findings of our review include a descriptive analysis of the body of papers and a thematic analysis structured under three themes; (1) co-creation strategies that can be used by HEI; (2) Co-creation barriers and benefits for HEIs; and (3) Co-creation barriers and benefits for students. We identify an exhaustive inventory of the strategies, barriers and benefits studied in extant literature. Finally, directions for further studies are identified.