Despite a large body of literature on coopetition, the extant findings on the performance outcomes of coopetition remain inconsistent and divergent. This meta-analysis aims to systematically examine the effect of coopetition on organizational performance and to identify the conditions when coopetition is particularly beneficial to organizational performance. Data were obtained from 49 primary studies involving 62,057 participants. Our results confirm that coopetition has a significantly positive impact on overall organizational performance. Specifically, coopetition is significantly positively related to financial, market, and innovation performance. Moreover, the coopetition-performance relationship is contingent on two environmental factors (i.e., national culture and industry type), one organizational relationship factor (i.e., coopetition structure), and two methodological factors (i.e., coopetition and performance measures). This study thus extends the coopetition literature by resolving the mixed findings regarding this relationship and emphasizing the fundamental significance of contingent factors.