The aim of this study was to quantify the effect of whole-body vibration on balance, functional mobility, gait, functional performance, and quality of life in institutionalized older people. Eight databases were systematically reviewed, as recommended by the Cochrane Collaboration. This systematic review was designed to answer the acronym set by the participants, interventions, comparators, and outcomes (PICO)-model. Ten randomized controlled trials were included in the meta-analysis. The analysis of the mean differences (MDs) of the functional mobility assessed with Time Up and Go test was MD = −2.49 s (95% confidence interval, CI, [−4.37, −0.61]; I 2 = 68%). In 279 participants from five studies, the overall MD = 0.49 (95% CI [−0.13, 1.11]; I 2 = 23%) for gait, and MD = 0.96 (95% CI [−0.45, 2.37]; I 2 = 85%) for balance, which represents the total Tinetti score, MD = 1.59 (95% CI [−0.52, 3.70]; I 2 = 82%). In summary, whole-body vibration could have benefits on functional mobility in institutionalized older people.