Outer Continental Shelf Lease Sale Number 40 Review Act - Amends the Outer Continental Shelf Lands Act of 1953 to declare leases granted pursuant to Outer Continental Shelf Lease Sale Number 40 to be legal, valid, and binding. Requires lessees under such leases to submit development and production plans for approval by the Secretary of the Interior in accordance with specified criteria.

Directs the Secretary to file an environmental report on such lease sale with the Council on Environmental Quality. Specifies information to be included in such report.

Establishes procedures for review and comment on the leasing plan and environmental report by the Governors of affected States.

Imposes limitations on judicial review of administrative actions undertaken pursuant to this Act.

Stipulates that approval of the environmental report by the President shall satisfy all requirements imposed by the National Environmental Policy Act of 1969.