Burnout has emerged as a significant concern among medical students and resident physicians worldwide. Characterized by emotional exhaustion, depersonalization, and reduced personal accomplishment, burnout adversely affects academic performance, clinical competence, professional development, and patient care. The demanding nature of medical education, prolonged working hours, high academic expectations, sleep deprivation, financial stress, and emotional exposure to illness and death contribute substantially to burnout. Recent studies indicate that burnout prevalence among medical trainees ranges from 30% to 70%, making it one of the most pressing challenges in healthcare education. This review examines the epidemiology, risk factors, psychological and professional consequences, assessment methods, and evidence-based interventions for burnout among medical students and residents. Emerging strategies involving institutional reforms, resilience training, mentorship programs, digital mental health support, and artificial intelligence-assisted wellness monitoring are also discussed. Addressing burnout is essential for maintaining trainee well-being, improving healthcare quality, and ensuring sustainable workforce development.