Production rescheduling involves re-optimizing production schedules in response to disruptions that render the initial schedule inefficient or unfeasible. This process requires simultaneous consideration of multiple objectives to develop new schedules that are both efficient and stable. However, existing review papers have paid limited attention to the multi-objective optimization techniques employed in this context. To address this gap, this paper presents a systematic literature review on multi-objective production rescheduling, examining diverse shop-floor environments. Adhering to the PRISMA guidelines, a total of 291 papers were identified. From this pool, studies meeting the inclusion criteria were selected and analyzed to provide a comprehensive overview of the problems tackled, dynamic events managed, objectives considered, and optimization approaches discussed in the literature. This review highlights the primary multi-objective optimization methods used in relation to rescheduling strategies and the dynamic disruptive events studied. Findings reveal a growing interest in this research area, with “a priori” and “a posteriori” optimization methods being the most commonly implemented and a notable rise in the use of the latter. Hybridized algorithms have shown superior performance compared to standalone algorithms by leveraging combined strengths and mitigating individual weaknesses. Additionally, “interactive” and “Pareto pruning” methods, as well as the consideration of human factors in flexible production systems, remain under-explored.