Failure　mode　and　effect　analysis　(FMEA)　is　a　proactive　reliability　management　technique　extensively　utilized　in　a　variety　of　fields.　To　enhance　the　effectiveness　of　FMEA,　a　great　many　multi-criteria　decision　making　(MCDM)　methods　have　been　applied　for　properly　evaluating　the　risk　of　failure　modes　over　the　past　two　decades.　However,　there　is　a　lack　of　study　concerning　systematic　literature　review　and　classification　of　the　researches　on　this　topic.　This　article　aims　to　provide　a　comprehensive　review　of　the　FMEA　studies　using　MCDM　approaches　for　evaluation　and　prioritization　of　failure　modes.　To　do　so,　a　total　of　169　journal　papers　extracted　from　the　online　database　over　the　period　of　1998-2018　were　selected　and　reviewed.　These　publications　were　classified　into　10　categories　according　to　the　used　MCDM　methods,　and　analyzed　in　regard　to　the　risk　factors,　risk　factor　weighting　methods,　and　risk　assessment　methods　in　FMEA.　Furthermore,　a　bibliometric　analysis　was　performed　based　on　the　frequency　of　MCDM　methods,　number　of　citations,　year　of　publication,　appeared　journals,　country　of　origin　and　application　areas.　This　research　supports　academics　and　practitioners　in　effectively　adopting　MCDM　methods　to　overcome　the　deficiencies　of　the　traditional　FMEA　and　provides　an　insight　into　its　state-of-the-art.