Underachievement is commonly defined as the gap between the expected and observed performance. The aim of this study was to examine the definitions, characteristics, criteria, and intervention of underachievement among gifted students through an extensive literature review. The study covered multiple databases. The main factors that were reported to affect underachievement among gifted students were classified into household-related, personal, and school-related. The methods such as mentoring, family counseling, and teacher support came to the forefront among various underachievement interventions. It was suggested that a more holistic assessment method that would use multiple data points and intervention programs in dealing with underachievement among gifted students needed to be developed.