The main goal of this study was to review current studies on the state of the art of wood constructions with a particular focus on energy efficiency, which could serve as a valuable source of information for both industry and scholars. This review begins with an overview of the role of materials in wood buildings to improve energy performance, covering structural and insulation materials that have already been successfully used in the market for general applications over the years. Subsequently, studies of different wood building systems (i.e., wood-frame, post-and-beam, mass timber and hybrid constructions) and energy efficiency are discussed. This is followed by a brief introduction to strategies to increase the energy efficiency of constructions. Finally, remarks and future research opportunities for wood buildings are highlighted. Some general recommendations for developing more energy-efficient wood buildings are identified in the literature and discussed. There is a lack of emerging construction concepts for wood-frame and post-and-beam buildings and a lack of design codes and specifications for mass timber and hybrid buildings. From the perspective of the potential environmental benefits of these systems as a whole, and their effects on energy efficiency and embodied energy in constructions, there are barriers that need to be considered in the future.