In this study, we conducted a systematic literature review to determine the physical tree traits, site conditions, and urban forest management strategies that provide optimal stormwater runoff mitigation through the interception of precipitation or enhanced infiltration of water routed toward the ground by urban tree cover. Our review found that foliar characteristics such as high leaf area index, low hydrophobicity, low inclination angles, and high surface roughness promote rainfall retention by the canopy, as do high bark water storage capacity and a denser crown. In addition, when soil conditions are suitable, infiltration can be enhanced by urban tree cover and promoted through efficient funneling of stemflow through the tree canopy, with this process facilitated by erectophile branching structure, bark of low microrelief and morphology conducive to water transport, and multi-leader canopies. Consideration of these traits should be made when selecting trees to enhance stormwater mitigation by urban tree cover. Applications related to the establishment, maintenance, and management of urban tree cover to maximize stormwater management benefits are also explored. Strategic selection and management of urban trees may significantly increase their collective capacity to reduce runoff volumes at a landscape scale.