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Endophytes are organisms that colonize the host plant without causing any apparent symptoms. Bambusicolous endophytes are microorganisms that inhabit healthy bamboo and establish a symbiotic relationship with the host. They primarily belong to the phylum Ascomycota under the class Dothideomycetes and Sordariomycetes. Bamboo harbours a plethora of fungal endophytes that are a major source of secondary metabolites and produce many enzymes that help in the growth promotion of the host. This systematic review mainly deals with the characterization, antimicrobial activity and importance of bambusicolous endophytic fungi along with their future aspects. The systematic review was based on five electronic databases yielding a total of 78 results/studies out of which 24 studies that met the inclusion criteria for a systematic review were selected, as per the PRISMA guidelines.