Microbial contamination, chemical reactions like auto‐oxidation, and physical damages are the main factors that can restrict the shelf life of food products. Using chemical additives is a common way to control these reactions; however, some of them are carcinogenic and consumers demand natural agents. These drawbacks prompt manufacturers to seek healthier alternatives to chemical preservatives. Essential oils (EOs) are secondary aromatic metabolites of plants that are familiar as ethereal or volatile oils and contain various chemical components. They are extracted from plants through hydrodistillation and possess excellent antioxidant and antimicrobial properties, making them ideal natural preservatives for food products. EOs and their components have exhibited high antimicrobial properties toward different pathogenic and spoilage microorganisms containing Gram‐negative and Gram‐positive species, mycobacteria, yeasts, and molds. Research has explored using of EOs in various food products, as well as their application in packaging. The use of EOs as preservatives in food products is indeed promising due to their natural antimicrobial properties. However, their application is often hindered by the strong flavor and aroma profiles associated with these oils, which may not be suitable for all food products. This flavor intensity can be particularly challenging, especially for products that need to maintain a subtle or specific taste profile. By using encapsulation, active packaging, hurdle technology, etc., the applied dose is reduced which can further reduce the negative effects of EOs on sensorial properties. This review aims to highlight EOs as superior antimicrobial and antioxidant agents for increasing the quality and safety of different food products.