Plasma-activated water (PAW) has received a lot of attention lately because of its antibacterial efficacy and eco-friendly nature. Compared to traditional disinfectants, this novel and intriguing option has a high disinfectant capacity while causing little to no modifications to the foodstuffs. Until now, PAWhas successfully demonstrated its effectiveness against a broad range of microorganisms on a wide variety of food items. Though the efficacy of PAW in microbial reduction has been extensively reviewed, a relatively significant issue of food quality has been largely overlooked. This review aims to summarize the current studies on the physicochemical characteristics and antimicrobial potential of PAW, with an in-depth focus on food quality and safety. According to recent studies, PAW can be a potential microbial disinfectant that extends the shelf life of various food products, such as meat and fish products, fruits and vegetables, cereal products, etc. However, the efficacy varies with treatment conditions and the food ingredients applied. There is a mixed opinion about the effect of PAW on food quality. Based on the available literature, it can be concluded that there has been no substantial change in the biochemical properties of most of the tested food products. However, some fruits and vegetables had a higher value for the enzyme superoxide dismutase (SOD) after PAW treatment, while only a few demonstrated a decrease in the Thiobarbituric acid reactive substances (TBARS) value. Sensory properties also showed no significant difference, with some exceptions in meat and fish products.