Myriad associations between the microbiome and various facets of liver physiology and pathology have been described in the literature. Building on descriptive and correlative sequencing studies, metagenomic studies are expanding our collective understanding of the functional and mechanistic role of the microbiome as mediators of the gut-liver axis. Based on these mechanisms, the functional activity of the microbiome represents an attractive, tractable, and precision medicine therapeutic target in several liver diseases. Indeed, several therapeutics have been used in liver disease even before their description as a microbiome dependent approach. To bring successful microbiome-targeted and -inspired therapies to the clinic, a comprehensive appreciation of the different approaches to influence, collaborate with, or engineer the gut microbiome to coopt a disease relevant function of interest in the right patient is key. Herein, we describe the various levels at which the microbiome can be targeted – from prebiotics, probiotics, synbiotics and antibiotics, to microbiome reconstitution and precision microbiome engineering. Assimilating data from preclinical animal models, human studies as well as clinical trials, we describe the potential for and rationale behind studying such therapies across several liver diseases, including metabolic dysfunction associated steatotic liver disease, alcohol associated liver disease, cirrhosis, and hepatic encephalopathy, as well as liver cancer. Lastly, we discuss lessons learnt from previous attempts at developing such therapies, the regulatory framework that needs to be navigated and the challenges that remain.