Sweet potato is always considered a food item that gives a sufficient stock of calories, nutrients, and minerals, and its syrup has numerous applications in the food industry. There is a need to review sweet potato syrup production processes in order to develop cost-effective and reliable designs for its production. The overall objective of this study is to update the current knowledge of the sweet potato syrup production processes and factors affecting its production. This study briefly reviews the sweet potato (its varieties, cultivation, and chemical composition/nutritional values), syrup production processes (acidic hydrolysis, enzymatic hydrolysis, acid–enzyme hydrolysis, and other processes to improve the quality of syrup), and effective parameters (e.g., enzyme type, enzyme dosage, temperature, pH, the role of water, and the role of starch and starch pretreatment) on the syrup production process. Finally, based on the gaps identified in the area, it discusses the conclusions and future outlook.