Objective: The use of formal supervision contracts has been strongly advocated across non-medical mental health professions. However, the use of such agreements is not a feature of the RANZCP Competency-Based Fellowship Program. This paper critically examines the evidence to support the use of formal supervision contracts. Method: A systematic review of empirical studies relating to the outcomes of supervision contracts was completed. Included records were subject to quality appraisal. Results: Two studies met the inclusion criteria; both were assessed to be of poor quality. One study found improved supervision effectiveness associated with the use of supervision contracts, and the other found no significant differences associated with formal contracting. Conclusion: Despite strong advocacy, limited empirical evidence was found to support the value of formal supervision contracts across mental health professions.