Large Language Models (LLMs), based on their highly developed ability to comprehend and generate human-like text, promise to revolutionize all aspects of society. These LLMs facilitate complex language understanding, translation, content generation, and problem-solving, enabled by vast historical data processing and fine-tuning. Throughout the past year, with the initial release of ChatGPT to the public, many papers have appeared on how to exploit LLMs for the ways we operate and interact with intelligent transportation systems. In this study, we review more than 130 papers on the subject and group them according to their major contributions into the following five categories: autonomous driving, safety, tourism, traffic, and others. Based on the aggregated proposals and findings in the extant literature, this paper concludes with a set of challenges and research recommendations, hopefully contributing to guide research in this young, yet extremely active research domain.