AbstractIntroductionMachine learning research into automated dementia diagnosis is becoming increasingly popular but so far has had limited clinical impact. A key challenge is building robust and generalizable models that generate decisions that can be reliably explained. Some models are designed to be inherently “interpretable,” whereas post hoc “explainability” methods can be used for other models.MethodsHere we sought to summarize the state‐of‐the‐art of interpretable machine learning for dementia.ResultsWe identified 92 studies using PubMed, Web of Science, and Scopus. Studies demonstrate promising classification performance but vary in their validation procedures and reporting standards and rely heavily on popular data sets.DiscussionFuture work should incorporate clinicians to validate explanation methods and make conclusive inferences about dementia‐related disease pathology. Critically analyzing model explanations also requires an understanding of the interpretability methods itself. Patient‐specific explanations are also required to demonstrate the benefit of interpretable machine learning in clinical practice.