Social networking sites (SNSs) have emerged as a center for daily social interactions. Every day, millions of users contribute information about themselves, and consume information about others on SNSs. In recent years, we have witnessed a growing number of studies on the issue of social information contribution and consumption behaviors on SNSs. This paper aims to provide a systematic literature review on this topic across different disciplines to understand the current research state and shed light on controversial findings of SNS usage regarding users’ well-being. We identified 126 relevant articles published between 2008 and 2014, and provide an overview of their antecedents and associated outcomes. Our analysis reveals that a majority of existing work focused primarily on social information contribution, its antecedents and favorable outcomes. Only few studies have dealt with contribution behavior and the dark sides of SNS use. Nevertheless, we could identify different characteristics of social information determining the favorability of contribution behavior. Further, we categorized the scarce papers of consumption behavior regarding the social information characteristics and identified different underlying processes: social comparison, monitoring and browsing. These findings contribute to the Information Systems (IS) discipline by consolidating previous knowledge about SNS usage patterns and individual well-being.