This literature review analyzes the effectiveness of traditional versus digital advertising by examining studies published between 2020 and 2026. It consolidates findings on various factors including reach, attention, trustworthiness, engagement, purchase intent, sales, measurability, personalization, and cost-effectiveness. Recent evidence indicates that digital advertising excels in targeting, interactivity, personalization, real-time tracking, and conversion monitoring. Conversely, traditional advertising maintains advantages in credibility, contextual presence, extensive reach, and memory retention. However, findings also show that neither medium is consistently superior; effectiveness can differ based on audience traits, marketing goals, product types, message design, attention levels, and media contexts. Research involving print, television, paid search, display, and social media reveals that integrated campaigns can yield synergistic effects, enhancing overall performance. Therefore, the review suggests that advertising effectiveness should be assessed using metrics specific to objectives and audiences rather than through direct channel comparisons alone. Future studies should focus on cross-media experiments, long-term outcomes, attribution issues, and emerging digital technologies across various markets and contexts.