The consumption of highly processed, hyperpalatable food in Western societies increases the risk of developing obesity and compulsive eating behaviors, which include food addiction (FA) and eating disorders (EDs), such as bulimia nervosa (BN) and binge eating disorder (BED). These behaviors can lead to a range of health consequences, including cardiovascular and metabolic diseases, cognitive impairments, and mental health disorders, among others. Given the evidence suggesting the involvement of the gut microbiota in regulating eating behavior, in recent years, scientists have sought to identify microbiota signatures associated with EDs and FAs. Multiple pro- and prebiotics, as well as other microbiota-based therapeutic interventions, have been suggested as preventive or treatment strategies for FA and EDs. To provide a comprehensive overview, this review is structured into two main sections. The first section describes compulsive eating behaviors, namely, BN, BED, and FA, recognizing their similarities and differences, and highlighting the importance of the proper distinction for the selection of targeted and effective treatment approaches. The second section provides an extensive summary of the recent research years behind the search for microbiota signatures and potential microbiota-based therapeutic interventions for managing EDs and FA in both humans and animal models.