Colles fracture, first described in 1814, is characterized by the dorsal displacement of the distal radius fragment and is highly prevalent, particularly among elderly patients. This study aims to evaluate the effectiveness of Open Reduction and Internal Fixation (ORIF) in treating Colles fractures, focusing on functional outcomes and postoperative quality of life. An integrative literature review and comparative analysis of studies on ORIF and other treatment methods were conducted using Google Scholar, Scopus, and Web of Science as indexing tools. Articles were selected using the keywords “Colles Fracture, Open Reduction and Internal Fixation, Functional Outcomes, Postoperative Complications.” The review highlights that ORIF generally provides superior functional outcomes and fewer complications in various fractures, such as those of the humerus, tibial pilon, calcaneus, and unstable distal radius fractures, compared to less invasive methods like external fixation (EF). However, EF shows advantages in specific cases, such as shorter surgical time and fewer perioperative complications. Moreover, the studies indicate that risk factors like diabetes, fracture severity, lack of drainage, and bone graft usage increase the risk of complications in ORIF. Additionally, minimally invasive techniques can reduce pain and enhance functional recovery in certain fractures, such as patellar fractures, when compared to ORIF.