Augmented reality (AR) and virtual reality (VR), a kingdom-of-the-art technology for superimposing information onto the real world, have recently started to have an effect on our everyday lives. In addition, AR and VR have shown a great contribution to advanced construction management in recent years. However, a comprehensive critical review of AR and VR technologies in construction management is absent in the literature. This study provides a comprehensive review of a summary of using potential opportunities of AR and VR to solve a variety of construction management issues effectively and efficiently. This study found that AR is successfully used in construction project scheduling, progress tracking, worker training, safety management, time and cost management, and quality and defects management. VR is effectively used as a visualization tool, worker training technology, safety management tool, and quality and defects management tool. In addition, AR and VR are used for developing a network that allows the possibility of having conferences with those who are geographically far off from each other or the construction site. This study could help to explore the potential fields of using AR and VR technologies in the construction industry effectively as advance time- and cost-saving profitable tools.