The purpose of this review is to assess the outcomes of surgical treatment of posterolateral instability of the knee in an evidence-based manner. The majority of the existing outcomes literature on posterolateral instability consists of small, level IV case series and level III retrospective studies. Outcomes of surgical treatment of posterolateral instability of the knee are difficult to compare because of the heterogeneous presentation of posterolateral corner (PLC) injuries, the variability of their associated injuries, and their relative rarity. As such, three common types of surgical intervention for posterolateral instability are explored separately in this article, including acute repair, acute reconstruction, and chronic reconstruction. In general, the current literature supports early anatomic repair of all soft tissues and concomitant PLC reconstruction; however, because of the variability of posterolateral injury, surgical treatment options should be tailored to the patient, depending on the severity and chronicity of the posterolateral instability, as well as the associated injuries present.