This systematic review synthesizes evidence on the effects of point‐of‐use fortification of foods with iron‐containing micronutrient powders alone, versus in combination with other vitamins and minerals, on nutrition, health, and development among children of preschool and school age, compared with no intervention, a placebo, or iron‐containing supplements. The review, which included 13 studies from Africa, Asia, and Latin America, concludes that point‐of‐use fortification of foods with micronutrient powders containing iron reduces anemia and iron deficiency in preschool- and school‐age children, and highlights the scarcity of available information on mortality, morbidity, developmental outcomes, and adverse effects.