Abstract Background & objective “Anti-angiogenetic drugs plus chemotherapy” (anti-angio-chemo) and “immune checkpoint inhibitors plus chemotherapy” (ICI-chemo) are superior to traditional chemotherapy in the first-line treatment of patients with advanced non-small-cell lung cancer (NSCLC). However, in the absence of a direct comparison of ICI-chemo with anti-angio-chemo, the superior one between them has not been decided, and the benefit of adding anti-angiogenetic agents to ICI-chemo remains controversial. This study aimed to investigate the role of antiangiogenic agents for advanced NSCLC in the era of immunotherapy. Methods Eligible randomized controlled trials (RCTs) comparing chemotherapy versus therapeutic regimens involving ICIs or anti-angiogenetic drugs were included. Outcomes included progression-free survival (PFS), overall survival (OS), objective response rate (ORR), and rate of grade 3–4 toxicity assessment. R-4.3.1 was utilized to perform the analysis. Results A total of 54 studies with a sample size of 25,046 were finally enrolled. “Atezolizumab + Bevacizumab + Chemotherapy” significantly improved the ORR compared with “Atezolizumab + Chemotherapy” (Odds ratio (OR) = 2.73, 95% confidence interval (CI): 1.27–5.87). The trend also favored “Atezolizumab + Bevacizumab + Chemotherapy” in PFS and OS (hazard ratio (HR) = 0.71, 95% CI: 0.39–1.31; HR = 0.94, 95% CI: 0.77–1.16, respectively). In addition, “Pembrolizumab + Chemotherapy” and “Camrelizumab + Chemotherapy” significantly prolonged the PFS compared to “Bevacizumab + Chemotherapy” (HR = 0.65, 95% CI: 0.46–0.92; HR = 0.63, 95% CI: 0.41–0.97; respectively). Meanwhile, “Pembrolizumab + Chemotherapy” and “Sintilimab + Chemotherapy” yielded more OS benefits than “Bevacizumab + Chemotherapy” (HR = 0.69, 95% CI: 0.56–0.83; HR = 0.64, 95%CI: 0.46–0.91; respectively). Scheme between “Atezolizumab + Bevacizumab + Chemotherapy” and “Atezolizumab + Chemotherapy” made no significant difference (OR = 1.18, 95%CI: 0.56–2.42) concerning the rate of grade 3–4 toxicity. It seemed that ICI-chemo yielded more improvement in quality-adjusted life-year (QALY) than “Bevacizumab + Chemotherapy” in cost-effectiveness analysis. Conclusion Our results suggest that ICI-chemo is associated with potentially longer survival, better cost-effectiveness outcomes, and comparable safety profiles than anti-angio-chemo. Also, adding bevacizumab to ICI-chemo seemed to provide additional therapeutic benefits without adding treatment burden. Our findings would supplement the current standard of care and help the design of future clinical trials for the first-line treatment of patients with advanced NSCLC.