Heart rate variability (HRV) is represented by the variation of the time intervals between consecutive heartbeats or the instantaneous heart rates, and can be assessed with linear and non-linear parameters. It is a sensitive indicator of an overall system complexity and adaptability and can be used to diagnose the autonomic dysfunction and quantify the associated risk in a variety of cardiac and non-cardiac disorders. The aim of this review is to summarize the current literature on the value of HRV in predicting the risk of long-term all cause, cardiac, and arrhythmic mortality in survivors of myocardial infarction (MI). We also emphasize the lack of evidence on the role of therapeutic interventions such as medications, bio-behavioral treatments, cardiac rehabilitation, and exercise, in modifying the HRV in post-MI patients.