In recent years, an emerging technology termed, "High-Performance Fiber-Reinforced Concrete (HPFRC)" has become popular in the construction industry. The materials used in HPFRC depend on the desired characteristics and the availability of suitable local economic alternative materials. Concrete is a common building material, generally weak in tension, often ridden with cracks due to plastic and drying shrinkage. The introduction of short discrete fibers into the concrete can be used to counteract and prevent the propagation of cracks. Despite an increase in interest to use HPFRC in concrete structures, some doubts still remain regarding the effect of fibers on the properties of concrete. This paper presents the most comprehensive review to date on the mechanical, physical, and durability-related features of concrete. Specifically, this literature review aims to provide a comprehensive review of the mechanism of crack formation and propagation, compressive strength, modulus of elasticity, stress-strain behavior, tensile strength (TS), flexural strength, drying shrinkage, creep, electrical resistance, and chloride migration resistance of HPFRC. In general, the addition of fibers in high-performance concrete has been proven to improve the mechanical properties of concrete, particularly the TS, flexural strength, and ductility performance. Furthermore, incorporation of fibers in concrete results in reductions in the shrinkage and creep deformations of concrete. However, it has been shown that fibers may also have negative effects on some properties of concrete, such as the workability, which get reduced with the addition of steel fibers. The addition of fibers, particularly steel fibers, due to their conductivity leads to a significant reduction in the electrical resistivity of the concrete, and it also results in some reduction in the chloride penetration resistance of the concrete.