Exopolysaccharide (EPS) production has been reported in both prokaryotes and eukaryotes. Bacterial EPSs have been used in both food and non-food applications. The demand for these EPSs has increased in the last two decades due to various advantages associated with these biopolymers compared to other plant and animal based hydrocolloids. Synthesis mechanism, structure, and characteristics of EPS vary with species of bacteria. Different methods of isolation and characterization of bacterial EPS have been reported. EPSs of bacteria have various technological properties, which suit their application in various industries. This chapter discusses the classification of EPS, EPS-producing bacterial species, biosynthesis of homopolysaccharides and heteropolysaccharides, extraction and purification of EPS, characterization of EPS, functional properties and various food applications of EPSs, and health benefits of EPSs.