A large number of power meters have become commercially available during the last decades to provide power output (PO) measurement. Some of these power meters were evaluated for validity in the literature. This study aimed to perform a review of the available literature on the validity of cycling power meters. PubMed, SPORTDiscus, and Google Scholar have been explored with PRISMA methodology. A total of 74 studies have been extracted for the reviewing process. Validity is a general quality of the measurement determined by the assessment of different metrological properties: Accuracy, sensitivity, repeatability, reproducibility, and robustness. Accuracy was most often studied from the metrological property (74 studies). Reproducibility was the second most studied (40 studies) property. Finally, repeatability, sensitivity, and robustness were considerably less studied with only 7, 5, and 5 studies, respectively. The SRM power meter is the most used as a gold standard in the studies. Moreover, the number of participants was very different among them, from 0 (when using a calibration rig) to 56 participants. The PO tested was up to 1700 W, whereas the pedalling cadence ranged between 40 and 180 rpm, including submaximal and maximal exercises. Other exercise conditions were tested, such as torque, position, temperature, and vibrations. This review provides some caveats and recommendations when testing the validity of a cycling power meter, including all of the metrological properties (accuracy, sensitivity, repeatability, reproducibility, and robustness) and some exercise conditions (PO range, sprint, pedalling cadence, torque, position, participant, temperature, vibration, and field test)