The recent rise of the Shared Value (SV) concept justifies the debate about its possible conceptual developments. The objective of this article is to analyze the conceptual evolution of the SV showing its approaches from strategy, corporate social responsibility (CSR) and stakeholders. The methodology used for research consists of a systematic review of the literature, using as input for the classification of articles, the graphs theory and a bibliometric analysis through the Tree of Science (ToS) tool. The analysis focuses on the evolution of the concept of SV (start, development and trends) observing the maintenance of the original approaches and new trends in concept application. It is concluded that although the origin of the SV does not yet have a defined consensus, there are some coincident characteristics for its application, such as: creation of mutual value, integration of economic and social value and the generation of positive impacts on stakeholders.