Farm-level investment in digital tools is often viewed as a necessary part of the agroecological transition. However, its actual relevance remains unclear due to currently ambiguous definitions of farm investments in general and equipment investments in particular. We conducted a systematic review of the farm investment literature to characterize the different categories of digital tools investments seen and to determine how often the environment is considered in this field of research. A total of 131 articles met our eligibility criteria and were subject to further analysis. First, we found that research on farm investments has looked at general farm investments, investments in combined factors of production, and investments in specific factors of production. Second, we discovered that there are four main investment categories for farm equipment (including digital tools). Third, we noted that few studies have addressed the environmental implications of investing in digital tools. Our findings emphasize that, to facilitate the agroecological transition, it will be important to promote broader strategies that encourage farmers to invest in digital tools.