Urbanization has instigated a high demand for nutritious, high-quality products that meet rigorous safety standards and have an extended shelf life. This increasing demand has stirred research on the development of innovative food preservation techniques that can effectively replace rigorous thermal treatments such as sterilization and pasteurization. In response to this challenge, non-thermal techniques such as cold plasma and pulsed light are gaining attention as promising solutions to enhance the shelf-life of processed foods. In this article, we reviewed studies focusing on the germicidal efficacy of cold plasma and its effect on the nutritional and organoleptic characteristics of food products. This review aims to provide a comprehensive overview of the mechanism and diverse applications of the cold plasma technique within the food processing sector. It has been observed that cold plasma offers multifaceted applications in food packaging, elimination of pesticides and food allergens, enhancement of antimicrobial activity, surface decontamination, and equipment disinfection. Cold plasma can be effectively used individually or as a hurdle to improve the efficiency of any preservation technique. It can be concluded that cold plasma has the potential to reshape and revolutionize food preservation practices.