The concept of the knowledge ecosystem has become indispensable for comprehending the intricate and ever-changing interactions among various social environments. Therefore, this study aims to adopt a systematic literature review (SRL) approach in exploring the concept of knowledge ecosystem (KE), starting with the main definitions found in the literature, primary characteristics, and the importance of knowledge creation as well as the dynamics of knowledge dispersion within the ecosystem. We focused on analysing 100 eligible publications indexed in the Web of Science database, published between 2006 and 2023. The main findings indicate that the knowledge ecosystems are dynamic systems characterised by continuous knowledge exchange and flow, where actors are exchanging knowledge, transmitting and organising it internally or as a reaction to the external environment. Secondly, the knowledge ecosystem provides the framework for understanding how the structure and dynamics of an environment influence the knowledge creation process, considered to be an equitable collaborative effort of all stakeholders. Thirdly, knowledge dispersion is seen as a crucial element within the ecosystem, as it is considered a key pillar in increasing the accessibility of information. All these results are useful for researchers as they shed more light on this complex system, thus highlighting its importance and functionality.