Alveolar ridge atrophy following tooth loss is a significant concern in implant dentistry. The ridge height may reduce by up to 50% within a year after tooth extraction. Guided bone regeneration has evolved from an experimental technique to a reliable bone replacement method; however, several issues remain that require further research. Vertical augmentation of major defects remains technically challenging, with no consensus on the best osteoplastic materials and membranes. Furthermore, complications such as premature membrane exposure and infections may limit treatment efficacy. This systematic review examines the use of guided bone regeneration in dentistry and maxillofacial surgery during the last decade. An analysis found that guided bone regeneration provides predictable horizontal and vertical bone augmentation of 3–5 mm and 2–5 mm, respectively. Implant survival in restored bone is comparable to that in intact bone, exceeding 96% over 5 years. Innovations include biologically active substances, such as platelet-enriched plasma and hyaluronic acid, pure magnesium resorbable membranes, ceramics with osteogenic ions, three-dimensional bioprinted scaffolds, and mesenchymal stem cell technologies. Improving guided bone regeneration with new biomaterials and modern techniques will expand clinical indications and provide more favorable long-term outcomes of bone augmentation.