The golden ratio (φ) and the Fibonacci sequence are mathematical patterns that appear in all biological systems, whether it be cardiac systems or plants. This review examines whether the human brain’s oscillatory systems follow similar mathematical properties. Neural oscillations are organized into discrete frequency bands (delta, theta, alpha, beta and gamma), and the ratios between them have been said to follow the golden ratio scaling. This review evaluates the evidence across three contexts - spectral organization, cross frequency coupling, and cognitive function (memory and perception). The strongest evidence has come from the memory domain, where hippocampal theta-gamma phase amplitude coupling during successful memory encoding often approaches the golden ratio. On the other hand, sleep dependent memory consolidation shows Fibonacci-like patterns. Despite these findings, there are a lot of important limitations that are still there. The brain naturally produces 1/f background activity, making it difficult to know whether these φ like patterns are meaningful or happening by chance. Scientists also do not know of any biological mechanism that would cause brain cells to organize their activity around φ. In addition, studies looking at φ in perception have produced mixed results. Overall, whether the idea that the brain is organized around the golden ratio is interesting and supported by some evidence, it has not been proven yet. Even so, this research has helped scientists better understand how the brain waves interact and how the brain processes and stores memories.