<p>Exopolysaccharides (EPS) produced by lactic acid bacteria (LAB) hold significant potential across multiple industries, with applications extending from food technology to pharmaceuticals. Although numerous studies have explored their technological and biological functionalities such as thickening, stabilization, and health-promoting effects the existing literature remains fragmented regarding the biosynthesis mechanisms, genetic regulation, and structure function relationships of LAB-derived EPS. Moreover, current reviews often address these aspects separately, lacking an integrated perspective that connects molecular mechanisms to practical applications. This review fills these gaps by providing a comprehensive and unified analysis of LAB produced EPS, covering their classification, biosynthetic pathways (including the influence of genetic determinants), structural diversity, technological roles, and biological activities. It also evaluates recent advances in production optimization and analytical characterization techniques. By consolidating dispersed knowledge, this review offers a holistic framework that links molecular insights with functional outcomes, thus supporting the rational design of LAB strains for targeted EPS production. The focus on LAB EPS is particularly relevant due to their Generally Recognized as Safe (GRAS) status, which enhances their applicability in food and health-related sectors compared to microbial EPS from other sources. Ultimately, this review contributes a critical synthesis that guides future research and industrial innovation, aligning with the growing demand for naturally derived, multifunctional, and health-promoting biopolymers.</p>