Singlet oxygen (O) has been proven to simultaneously cause oxidative damage to food and the death of microorganisms. In order to enhance the utilization of O in food systems, this review presents an overview of recent studies on the formation mechanisms of O, the damage mechanisms of O on food, the self-protective mechanisms in food against O, and the applications of O in food preservation based on the narrative review guidelines. Studies have shown that in vegetable and meat systems, O is mainly produced through photochemical reactions. It has been suggested that proteins and lipids are the main target compounds for oxygen in food. Natural antioxidants in food (such as vitamin E and carotenoids) can remove O through physical or chemical quenching mechanisms. Novel preservation techniques featuring a thin film technology coupled with photosensitizers have been employed on the surface of food to prolong the shelf life. However, how to balance the bactericidal effect of O and its oxidative effects on food still requires further research. It could be feasible that O will play an increasingly important role in the future food industry on the premise of strengthening supervision over food safety risks induced by O.