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Functional Magnetic Resonance Imaging (fMRI) is presently one of the most popular techniques for analysing the dynamic states in brain images using various kinds of algorithms. From the last decade, there is an exponential rise in the use of the machine and deep learning algorithms of artificial intelligence for analysing fMRI data. However, it is a big challenge for every researcher to choose a suitable machine or deep learning algorithm for analysing fMRI data due to the availability of a large number of algorithms in the literature. It takes much time for each researcher to know about the various approaches and algorithms which are in use for fMRI data. This paper provides a review in a systematic manner for the present literature of fMRI data that makes use of the machine and deep learning algorithms. The major goals of this review paper are to (a) identify machine learning and deep learning research trends for the implementation of fMRI; (b) identify usage of Machine Learning Algorithms and deep learning in fMRI, and (c) help new researchers based on fMRI to put their new findings appropriately in existing domain of fMRI research. The results of this systematic review identified various fMRI studies and classified them based on fMRI types, mental diseases, use of machine learning and deep learning algorithms. The authors have provided the studies with the best performance of machine learning and deep learning algorithms used in fMRI. The authors believe that this systematic review will help incoming researchers on fMRI in their future works. [ABSTRACT FROM AUTHOR]