Socially shared regulation of learning (SSRL) has been recognized as a new and growing field in the framework of self-regulated learning theory in the past decade. In the present review, we examine the empirical evidence to support such a phenomenon. A total of 17 articles addressing SSRL were identified, 13 of which presented empirical evidence. Through a narrative review it could be concluded that there is enough data to maintain the existence of SSRL in comparison to other social regulation (e.g., co-regulation). It was found that most of the SSRL research has focused on characterizing phenomena through the use of mixed methods through qualitative data, mostly video-recorded observation data. Also, SSRL seems to contribute to students’ performance. Finally, the article discusses the need for the field to move forward, exploring the best conditions to promote SSRL, clarifying whether SSRL is always the optimal form of collaboration, and identifying more aspects of groups’ characteristics.