South Africa’s land reform program is a cornerstone of efforts to redress historical injustices, guided by the 1997 White Paper on Land Reform Policy and structured around restitution, redistribution, and tenure reform. Three decades into implementation, this study systematically reviews the policy performance from 1994 to 2024, focusing on these pillars and related governance measures. Despite repeated policy revisions and extensive public debate, significant gaps persist between objectives, such as equitable access, tenure security, and poverty reduction—and actual outcomes. Using PRISMA guidelines, 94 peer-reviewed articles were selected from Scopus (1994–2024) alongside key policy documents and official reports. Evidence shows that land reform has consistently fallen short of its targets. Restitution claims remain largely cash-based, undermining tenure security, while redistribution has transferred less than 14% of agricultural land, far below the 30% target. Beneficiaries under the Proactive Land Acquisition Strategy (PLAS) often hold insecure lease agreements, and most households in former homelands lack title deeds, perpetuating vulnerability. The weak institutional capacity, poor coordination, and inadequate post-settlement support further constrain progress. The review concludes that the most fundamental policy priority is establishing a unified national framework that guarantees secure land tenure through the issuance of title deeds, complemented by integrated post-settlement support and transparent beneficiary selection. Strengthening tenure security is essential for enabling investment, improving livelihoods, and achieving equitable and sustainable land reform.