<p>Potholes are major road infrastructure problems that are exacerbated by extreme weather and excessive traffic. Both binders and aggregates are essential components of hot and cold patching mixtures used to repair potholes. The parameters of air voids (AV%), voids in the mineral aggregate (VMA%), and voids filled with asphalt (VFA%) are essential for assessing the performance of cold patching mixtures, with typical AV% ranging from 10 to 15% due to moisture content. Dense-graded mixtures, while stable and durable, have lower AV% (10–12%) and a VFA of 70–75%, whereas open-graded mixtures feature higher AV% (13–15%) and lower VFAs (65–70%), making them more susceptible to rutting, while polymer-modified mixtures offer lower AV% (9–11%) and higher VFAs (72–78%), balancing durability and workability. This review analyses several laboratory studies used by road agencies to evaluate cold patching mixtures. Based on this review, it can be concluded that the laboratory performance (stability, adhesion, cohesion, workability, rutting and moisture damage) of cold patching mixtures mainly depends on the mix design parameters (aggregate gradations, binders and their contents, binding agents, and curing regimes). Cold patching mixtures with dense gradations and particularly mixtures with binding agents (e.g., hydrated lime, cement, fly ash, cellulose fibre, and epoxy resins) performed well. In addition, curing procedures also have a large impact on how well patching mixtures work. Furthermore, these mixtures are more stable and less prone to rutting and moisture damage but have lower workability. Thus, it can be concluded that cold patching mixtures must be chosen correctly based on the parameters and curing schedules. Researchers and road organizations can use the results to improve road infrastructure durability and sustainability.</p>