Agriculture, vital for sustenance and economic stability, faces growing pressures from resource scarcity, urbanization, and a surging global population. Achieving sustainable food production necessitates integrating state-of-the-art technologies within a complex, diverse ecosystem encompassing farmers, businesses, and policymakers. A socio-ecological value scorecard is essential for informing decision-making and enhancing farming systems; yet, there is a significant gap in thoroughly examining its role in addressing agricultural challenges. This paper addresses this by presenting a systematic literature review (SLR) of 26 relevant studies, rigorously selected from an initial 1010 papers published between 2014 and 2024. Articles underwent a two-phase screening process based on specific inclusion and exclusion criteria, followed by a quality assessment criteria to ensure reliability and relevance. The review highlights the critical role of a socio-ecological value scorecard to evaluate the broader implications of agricultural activities, guiding stakeholders toward more sustainable and responsible practices. This review also explores opportunities and challenges in leveraging data-driven agricultural innovations, precision agricultural techniques, the Internet of Things (IoT), cloud computing, and artificial intelligence (AI) to enhance control, productivity, and sustainability. It emphasizes the importance of data governance and sharing to unlock the full potential of these technologies, moving beyond traditional, experience-based methods. Moreover, the review provides a comprehensive analysis and taxonomy, illustrating the current research landscape and offering insights for future studies in developing and implementing a socio-ecological value scorecard for sustainable smart agriculture. Ultimately, the study contributes to understanding how a holistic, data-driven approach can pave the way for responsible and environmentally conscious farming practices.