Deep Eutectic Solvents' (DESs) versatility has allowed, over the past few years, the broad applicability of these solvents in several areas of knowledge, including in the oil industry. This work presents an updated review of state-of-the-art DES-based applications in oil operations, focusing on asphaltenes. Different aspects of DES-based applications in oil industry operations have been discussed, particularly the underlying mechanisms, such as reduced interfacial tension, wettability modification, inhibition of asphaltene precipitation, and microemulsion formation. According to the scientific literature, some evidence indicates that solubility, charge transfer, hydrogen bonding, and π−π and acid− base interactions can be considered active mechanisms to promote the interaction between DESs and asphaltene molecules. Based on this study, DESs are considered environmentally friendly and economical alternatives compared to commercial chemical compounds, potentially biodegradable, recyclable, and with tunable properties, which are seen as valuable in the oil industry for both upstream and downstream operations. However, the lack of knowledge about DESs in oil industry operations may be a challenge for their use in large-scale. Therefore, more studies are needed to make it safe and effective in industrial-scale.