Natural deep eutectic solvents (NADESs) are defined as mixtures of certain molar ratios of natural compounds such as sugars, organic acids, amino acids, and organic bases that are abundant in organisms. The melting points of these mixtures are considerably lower than those of their individual ingredients and far below ambient temperature. The first publications on the NADES concept in 2011 created a great expectation regarding their potential as green solvents that could replace conventional organic solvents in a wide range of applications. This was largely because many of the drawbacks of conventional synthetic ionic liquids (ILs) and deep eutectic solvents (DESs), particularly their toxicity and environmental hazards, could be solved using NADESs. Throughout the last 7 years, the interest in NADESs has increased enormously as reflected by the exponential growth of the number of related publications. The research on NADESs has rapidly expanded particularly into the evaluation of the feasibility of their application in diverse fields such as the extraction of (targeted) bioactive compounds from natural sources, as media for enzymatic or chemical reactions, preservatives of labile compounds, or as vehicles of non–water-soluble compounds for pharmaceutical purposes. Along with the exploration of these potential applications, there have been a large number of other studies related to their physicochemical features, the search for new NADESs, the research into the interactions between NADES components or with solutes, the recovery of solutes from NADES solutions, and the ways of circumventing inherent problems of NADESs such as their high viscosity and the consequent difficulties in handling them. This article contains a review of the applications of NADESs as extraction solvents, reaction media, and preservative, providing also a perspective of their future.