In the rapidly evolving business environment, where digitalization is at the forefront, the role of Information Technology (IT) in enabling business transformation has never been more crucial. Effective IT and Business Partnerships are essential for organizations aiming to derive substantial business value from their strategic IT investments. Successful business partnerships are vital for organizations seeking to stay competitive and responsive to market dynamics. This study aims to deepen the understanding of IT-Business partnerships through a detailed review of the basket of eight journals in information systems, employing grounded theory and inductive reasoning. It seeks to analyze how such partnerships have formed, executed, and evolved, to identify best practices for effective collaboration between IT and business sectors. The research will contribute insights into how strategic IT investments can be optimally leveraged for business transformation and tend to organizational performance enhancement.