A shroud retention system may generally include a shroud hanger and first and second hooked components extending from an outer hanger wall of the hanger. The first hooked component may include a first wall extending from the outer hanger wall and a first rail extending from the first wall. The second hooked component may include a second wall extending from the outer hanger wall and a second rail extending from the second wall. In addition, the system may also include a shroud segment having a shroud wall configured to be positioned radially between the outer hanger wall and the first and second rails. Moreover, the system may include a retention spring positioned within a radial space defined between the outer hanger wall and the first and second rails that is configured to apply a radial spring force against the shroud segment.