Baker’s yeast comprises a huge diversity of strains of unicellular fungi belonging to Saccharomyces cerevisiae species. Over their long global history of use, these microorganisms (such as brewer's yeast or wine yeast) have become one of the most frequently used either for the production of biologically active compounds, as they are an important source of proteins, antioxidants, vitamins and other essential components, or for conventional fermentation. The first aspect addressed in various studies regarding baker’s yeast relates to the role it plays in the production process of bakery products. Saccharomyces cerevisiae (baker’s yeast) is superior fermentation yeast and the oldest known starter culture. Great interest was shown in the performance of productive capacities of baker’s yeast strains: increasing of biomass production, improving their ability to convert sugars with the formation of CO2 and ethyl alcohol, dough loosening etc. By addressing key aspects such as: selection of nutrient media with adaptive characteristics similar to habitats from which they were isolated, optimal cultivation and storage conditions, reactivating of dry forms, formation of resistance to various processing conditions, etc., commercial yeast strains with wide applications in the bakery industry have been generated. Since the introduction of genetic engineering, genetic and phenotypic variability of industrial and wild strains was identified as a way to improve their properties. The assessment of aromatic, antimold and nutritional qualities to better meet the industry needs has resulted in a wide range of specific baker’s yeast ingredients for niche markets. In recent years, there has been a steady interest in the medical aspect of biologically active compounds with antioxidant, antimicrobial, and immunostimulating properties, specially developed on the basis of baker’s yeast. Retrospective of principles and processes using baker’s yeast, as well as recent advances in their application, reveal the impact of these technologies on industry and health. Therefore, baker’s yeast still remains a valuable object of research and modern technologies. The trend of the last few years is the use of wild yeast in production processes instead of industrial one. This requires the identification and exploitation of new strains that can be used both in industrial and domestic production. The quality of yeast, which is a source of valuable micronutrients, can be improved by implementing technologies for directed synthesis of some biomass components (vitamins, minerals, amino acids, etc.). They can also ensure the stability of technological properties of bread yeasts and their quality.