Entrepreneurial alertness is the key to opportunity identification; the high degree of alertness makes it possible to identify the best opportunity ignored by others. The concept of entrepreneurial vigilance until the writing of its lines remains vague and little empirical validation in this field of research. The purpose of this article is to offer a broad overview of the concept. The study is grounded in a systematic review of the literature. Initially, articles are collected, then an analysis of the concept’s significance and development is conducted, and finally, a summary of the entire literature review will be provided.