This study aimed to make a literature review on instruments and models of risk prediction to identify elderly at risk of (re) hospitalization. A systematic literature review was performed in virtual libraries BVS and PubMed in the period from 2003 to 2012. Through inclusion / exclusion criteria, 11 articles were selected to compose the sample. Of these, 07 were published in the period from 2007 to 2011, 06 were international studies, 05 were cohort studies and 06 used participants aged 65 years or older. There were eight types of instruments used to assess the risk of (re) hospitalization in the elderly. Of these, three were used in the U.S., five in Brazil, one in Canada and two in Europe. The collection of data for detecting the risk of (re) hospitalization in the elderly occurred both through primary and secondary sources. Many variables were used to predict the risk of (re) hospitalization in the elderly; however, sociodemographic aspects, preexisting diseases, caregiver availability, health perception, hospital overnight stay and functional disability were significant. It was observed that the instruments of risk detection were tools used to stratify the elderly at risk of (re) hospitalization, allowing a more appropriate preventive action