Research and user experience suggests both positive and negative social impacts resulting from practices in the sharing economy: social cohesion vs. gentrification; inclusiveness vs. discrimination; flexible employment vs. exploitation. However, as yet, there is no framework for understanding or assessing these social impacts holistically.We aim to improve understanding of the social impacts of sharing platforms and develop a systematic framework to assess these impacts.We conduct a narrative literature review and stakeholder workshop, integrating insights to produce a systematic social impact assessment framework and a practice-oriented tool.We identify four social aspects-trust, empowerment, social justice, and inclusivity-and eighteen indicators that make up the framework. We describe each indicator and its relevance to the sharing economy as well as suggest measurable variables in the form of a practice-oriented tool.The framework and tool are the first holistic method for assessing social impact in the sharing economy, which may inform researchers, sharing platforms, regulators, investors, and citizens to mitigate adverse social impacts while enhancing the overall net social value of the sharing economy.