It is encouraging to see a focus on student mental health increasingly reflected in international education policies. However, the growing number of school-based mental health and wellbeing programs makes it challenging to identify quality interventions that effectively support student mental health, and even harder to identify evidence-based programs that link mental health support to learning. There is also a lack of comprehensive evidence on the effectiveness of mental health and wellbeing interventions in relation to student academic outcomes, particularly in low- and middle-income countries (LMIC). In response to renewed interest in understanding how the education sector can provide effective mental health support in LMIC, this Rapid Evidence Assessment aimed to provide new evidence on mental health programs that support both student wellbeing as well as academic outcomes in LMIC. In particular this review investigated: the effectiveness of school-based interventions that support mental health promotion and psychosocial wellbeing for students aged 5–19 years in LMIC, and the influence of such programs on academic readiness and student academic achievement. This rapid evidence assessment was funded by the Global Education Monitoring (GEM) Centre, a long-term partnership between ACER and the Australian Government’s Department of Foreign Affairs and Trade.