Liquid phase-based microextraction techniques (LPµETs) have attracted great attention from the scientific community since their invention and implementation mainly due to their high efficiency, low solvent and sample amount, enhanced selectivity and precision, and good reproducibility for a wide range of analytes. This review explores the different possibilities and applications of LPμETs including dispersive liquid–liquid microextraction (DLLME) and single-drop microextraction (SDME), highlighting its two main approaches, direct immersion-SDME and headspace-SDME, hollow-fiber liquid-phase microextraction (HF-LPME) in its two- and three-phase device modes using the donor–acceptor interactions, and electro membrane extraction (EME). Currently, these LPμETs are used in very different areas of interest, from the environment to food and beverages, pharmaceutical, clinical, and forensic analysis. Several important potential applications of each technique will be reported, highlighting its advantages and drawbacks. Moreover, the use of alternative and efficient “green” extraction solvents including nanostructured supramolecular solvents (SUPRASs, deep eutectic solvents (DES), and ionic liquids (ILs)) will be discussed.