The development of new techniques for the control of pathogenic microorganisms during food production and for the prevention of spoilage are needed to reduce or replace chemical preservatives. This is due to the trend that consumers are increasingly questioning the use of chemical preservatives because of the many health concerns. Because of this issue, bacteriocins and bacteriophages are increasingly viewed as safe natural preservatives with a long history of various applications during food production and preservation. This minireview considers applications of these two antimicrobials, highlights their mode of action, lists their advantages and, when necessary, their limitations. It also reports recent advances in the use of bacteriophages and bacteriocins either alone or in combination in different food matrices. The incentives and effectiveness offered by these antimicrobials in the field of biopreservation are considered for future applications during food production and preservation.