Traditional yoga encompasses a variety of practices, such as physical postures, breathing techniques, meditation practices, and ethical teachings. Numerous studies and meta-analyses have demonstrated yoga’s efficacy in promoting mental and physical health. Conversely, little is known about how the diverse components of yoga contribute to its overall effect. In this review, we summarize the current evidence on the differential and incremental effects of yoga components. We evaluated 18 comparative studies and 16 meta-analyses that conducted relevant subgroup analyses. These studies and meta-analyses examined a multitude of variables and varied greatly with regard to population, study design, and yoga components under investigation. Some meta-analyses included other mind–body interventions, such as Mindfulness-Based Stress Reduction (MBSR). Nonetheless, combined interventions incorporating multiple components consistently outperformed simpler interventions. Adding breathing and/or meditation practices to yoga interventions proved particularly beneficial in this regard. However, specific components or combinations were more effective in enhancing certain variables or clinical conditions, suggesting a need for custom-tailored programs. Similarly complex mind–body interventions, such as yoga and MBSR, were often equally efficient. Still, most findings remain preliminary and more research is needed. The ethical component of yoga is particularly underresearched. Future studies should isolate and compare all of yoga’s components and evaluate additive effects by investigating different combinations of components. We encourage researchers to refer to theoretical frameworks, use rigorous methodology, and take into account individual factors.