Diabetes is a metabolic disorder characterized by a chronic increase in blood glucose. Owing to the limitations observed with antidiabetics in modern medicine, medicinal plants and bee products are known as good matrices for the search for new antidiabetic molecules. The present study focused on the evaluation of the hypoglycemic and the protective properties of two natural products widely used in complementary and alternative medicine (thyme honey and olive oil). To achieve this, the study was carried out on Wistar rats rendered diabetic by the injection of a single dose of alloxan monohydrate (65 mg/kg body weight (BW)). First, the physicochemical characterization and the phytochemical analysis of thyme honey and olive oil were carried out, and then in vivo study was conducted on 42 Wistar rats divided into seven groups: three groups were normal, one group was untreated diabetic, and three groups were diabetic rats treated with thyme honey (2 g/kg BW) or olive oil (10 mL/kg BW) or their combination ((1 g/kg BW of thyme honey) and (5 mL/kg BW of olive oil)). During the experiment, the glycemia was measured regularly every 10 days. After 30 days of treatment, the rats were sacrificed. The serum and urine were analyzed to determine hepatic enzymes levels (AST, ALT, ALP, and LDH), lipidic profile (total cholesterol, triglycerides, high-density lipoprotein, low-density lipoprotein), and kidney parameters (urea, uric acid, creatinine, total protein, sodium, potassium, and chloride). The liver, pancreas, and kidneys were analyzed to evaluate their histological changes and to determine their enzymatic antioxidant content (catalase, GSH, and GPx) and the levels of MDA. The results obtained showed that thyme honey or olive oil, and especially their combination, improved significantly the blood glucose levels and they protect against metabolic changes and the complications induced by diabetes.