Obesity is a major risk factor for lifestyle-related diseases, including cardiovascular disease, type 2 diabetes, and hypertension. Several studies have investigated the association between pet ownership and obesity, but the findings have been inconsistent. This systematic literature review and meta-analysis assessed the association between pet ownership and obesity. Using PubMed and Scopus, we overviewed the literature published until December 2019 and selected pertinent data for meta-analysis. Two independent reviewers extracted the data. Pooled relative risks (RRs) with 95% confidence intervals (CIs) for obesity were calculated using the random-effects model with inverse-variance weighting. The 21 included articles were cross-sectional studies. Five publications (nine analyses) that reported adjusted RRs for BMI ≥ 25 were included in the meta-analysis. No significant association existed between pet ownership and obesity (pooled RR = 1.038; 95% CI, 0.922–1.167; I2 = 51.8%). After stratification by age group (children vs. adults), no significant association was detected (pooled RR = 0.844; 95% CI, 0.604–1.179; I2 = 64.1% vs. pooled RR = 1.099; 95% CI, 0.997–1.212; I2 = 25.2%). Similarly, no significant association was observed between dog ownership and obesity, indicating no association between pet ownership and obesity. However, no infer causation can be reported because all studies included in this meta-analysis were cross-sectional. Therefore, further prospective studies are needed.