Background: Recent advances in mobile sensing and computing technology has provided a means to objectively quantify postural control in unobtrusive environment. This has resulted in the rapid development and evaluation of a series of wearable inertial sensor-based assessments. However, the validity, reliability and clinical utility of such systems is not fully understood. Objectives: This systematic review aims to synthesise and evaluate studies which have investigated the ability of wearable inertial sensor systems to validly and reliability quantify postural control performance in sports science and medicine applications. Methods: A systematic search strategy, utilising the PRISMA guidelines, was employed to identify eligible articles through ScienceDirect, Embase and PubMed databases. Forty-seven articles met the inclusion criteria and were evaluated and qualitatively synthesised under two main headings: measurement validity and measurement reliability. Furthermore, studies which investigated the utility of these systems in clinical populations were summarised and discussed. Results: After duplicate removal 4,374 articles were identified with the search strategy, with 47 papers included in the final review. Twenty-eight studies investigated validity in healthy populations, while 15 studies investigated validity in clinical populations. Thirteen studies investigated the measurement reliability of these sensor-based systems. Conclusions: The application of wearable inertial sensors for sports science and medicine postural control applications is an evolving field. To date, research has primarily focused on evaluating the validity and reliability of a heterogeneous set of assessment protocols, in a laboratory environment. While researchers have begun to investigate their utility in clinical use-cases such as concussion and musculoskeletal injury, most studies have leveraged small sample sizes, have low study quality, and use a variety of descriptive variables, assessment protocols and sensor mounting locations. Future research should evaluate the clinical utility of these systems in large high-quality prospective cohort studies, to establish the role they may play in injury risk-identification, diagnosis and management.