Thyme's high concentration of bioactive chemicals and ethnopharmacological significance make it one of the most significant therapeutic herbs. The alternative natural antioxidant and antibacterial thyme, which has potential applications in the food business, is the main topic of this review. This is in keeping with the tastes of the modern customer, who seeks for natural and healthy items. Thyme is a desirable natural additive because various studies have shown that using it prolongs the shelf-life of foods (meat, meat products, milk, fish, or seafood products) and decreases lipid oxidation. In contrast to other natural preservative extracts, thymus extracts and essential oils are used less frequently as natural food additives despite these findings. Taking into consideration the source of the thyme (plants, plant extracts, or essential oils), this study offers a summary of the most significant research on the beneficial effects of the plant's bioactive constituents and its applications as a food preservative.