The preservation of built heritage, vital for cultural identity, increasingly utilizes Heritage Building Information Modeling (HBIM) as a transformative digital approach for documenting, analyzing, and managing historic structures. This paper investigates the state-of-the-art of HBIM within the Latin America (LATAM) context over the past 10 years, identifying its primary applications, common methodologies, technological integrations, and key challenges through a Systematic Literature Review (SLR). Employing a dual analysis of bibliometric mapping and qualitative synthesis of studies sourced from the Scopus database, this research reveals growing HBIM use in LATAM for digital archiving, conservation monitoring, risk and structural assessment, and post-disaster recovery. Scan-to-BIM is a prevalent methodology, with innovative integrations with Internet of Things (IoT), Building Energy Modeling (BEM), and Geographic Information Systems (GIS) also emerging. Bibliometric analysis highlighted distinct research clusters focused on structural analysis/information management and data acquisition/architectural value simulation. However, significant challenges hinder widespread HBIM adoption, including the geometric complexity of heritage assets, the critical need for specialized technical expertise, software adaptation issues, high implementation costs, and the absence of standardized national protocols. While HBIM offers substantial potential for enhancing LATAM heritage preservation, its effective consolidation necessitates concerted efforts in research, specialized training, policy development, and collaborative initiatives to fully harness this technology for safeguarding the built heritage.