Preparations containing probiotic strains of bacteria have a beneficial effect on human and animal health. The benefits of probiotics translate into an increased interest in techniques for the preservation of microorganisms. This review compares different drying methods and their improvements, with specific reference to processing conditions, microorganisms, and protective substances. It also highlights some factors that may influence the quality and stability of the final probiotic preparations, including thermal, osmotic, oxidative, and acidic stresses, as well as dehydration and shear forces. Processing and storage result in the loss of viability and stability in probiotic formulations. Herein, the addition of protective substances, the optimization of process parameters, and the adaptation of cells to stress factors before drying are described as countermeasures to these challenges. The latest trends and developments in the fields of drying technologies and probiotic production are also discussed. These developments include novel application methods, controlled release, the use of food matrices, and the use of analytical methods to determine the viability of probiotic bacteria.