In recent years, a novel medium with similar properties to ionic liquids but with additional advantages regarding cost, environmental impact, and synthesis has been developed: deep eutectic solvents (DESs). These solvents result from the association between an organic salt (ammonium or phosphonium) with a hydrogen-bond donor such as alcohols, acids, or amides. To date, the availability of green, inexpensive and easy to handle solvents is almost non-existent. Therefore, DESs currently arouse growing interest in many research fields. This review deals with the major applications of this new family of solvents with a particular focus on lipase-catalyzed reactions such as hydrolysis, aminolysis, or alcoholysis.