Around the world, interest is growing in the circular economy in response to the current unsustainable model of production and consumption based on increased use and depletion of resources. This paper provides a review of the academic literature on the circular economy in agri-food systems, with the aims of understanding its main characteristics and perspectives, and summarizing and discussing the literature in this field. This review provides a deeper understanding of the opportunities provided by the circular economy as a solution to the current need to reduce the environmental impacts of business-as-usual economic systems and the state of the art of the circular economy in the academic debate. The results are discussed based on the chosen topic-core investigated in this review: business model and organization management, food loss and waste along the supply chain, analytical tools for the circular economy, stakeholder acceptance of the circular economy, and mitigation strategies and political approach. The findings show the need for the implementation of cleaner production models and consequent increases in stakeholder responsibilities and awareness, from both producers and consumers, as well as the need for the implementation of suitable policies and tools.