Summary The challenge‐hindrance model of stress proposes that stressors can be divided into two distinct groups: those that challenge employees and those that hinder employees. This critical review seeks to explain the history of the model and its basic tenets, while succinctly summarizing the findings of existing studies based on the model. A thorough search of the stress literature uncovered 32 studies that specifically examined the relationship between challenge and hindrance stressors and important personal/organizational variables. Results were reviewed and analyzed, specifically by describing past meta‐analyses on the model, looking at the overall pattern of results from primary studies, and meta‐analyzing the relationships presented in those papers. This synthesis suggests that although there are some differential relationships of challenge and hindrance stressors with organizational variables (e.g., performance and engagement), the relationships to other key variables, such as counterproductive work behaviors, psychological strains, and physical health, are consistently negative for both challenge and hindrance stressors. Thus, we propose that stress research move away from the current challenge‐hindrance model in favor of other established models and/or a more appraisal‐based approach.