In recent years, the consumption of natural resources and the generation of large amounts of waste have seriously threatened the progress of human civilization towards sustainable development. Waste such as non-biodegradable and non-self-degradable waste rubber tires have aroused widespread concern for the ecological environment, and recycling and reusing them in a way that partially replaces concrete aggregates is an effective approach to solving the issue of waste rubber tire accumulation and achieving sustainable development of the construction industry. However, the introduction of rubber particles into concrete has a negative impact on the mechanical behavior of concrete. Notably, reinforcing rubberized concrete with steel fibers is an innovative solution to address its shortcomings. This paper provides a comprehensive review of the sustainability and mechanical properties of steel fiber-reinforced rubberized concrete. Specifically, a comprehensive overview of the main material sources for steel fiber-reinforced rubberized concrete is presented in terms of recyclability of waste rubber tires, the characteristics of rubber particles, and the characteristics of steel fibers. Given the sustainability of steel fiber-reinforced rubberized concrete, cost-benefit analysis and environmental sustainability are widely summarized. Furthermore, the mechanical properties of steel fiber-reinforced rubberized concrete such as strength (compressive, splitting tensile, and flexural strength), toughness (compressive, and flexural toughness), elastic modulus, impact resistance, and fracture characteristics are critically reviewed and discussed. Then, the microscopic behavior of steel fiber-reinforced rubberized concrete is evaluated and analyzed. Eventually, research progress in areas related to steel fiberreinforced rubberized concrete is suggested and further possible research is proposed based on the critical analysis. This paper can provide information for the production and application of sustainable steel fiber-reinforced rubberized concrete with enhanced mechanical properties.