Spillage of fossil-based oils during their conveyance through water conduits are sporadic, but significant environmental disasters. As the viscous hydrocarbons of the crude oils spread on water surface and choke aquatic life to death, their effective degradation is crucial for ecological balance. Though chemical and mechanical means are conventional ways to tackle the issues, they are riddled with limitations. In this scenario, coercing the biosurfactant-producing bacteria and fungi are promising avenues. Biosurfactants, the amphiphilic compounds, are capable of reducing interfacial tension, dispersing the oil particles, and degrading theminto non-toxic debris. Among the vast array of biosurfactants, the trio of rhamnolipid, sophorolipid, and surfactin have been characterized well. Among the microbes, only Pseudomonas, Bacillus, and Candida have been evaluated, while there can be other exploitable candidates. In this regard, this review discusses the scopes and hurdles in utilization of the microbial surface-active compounds for oil spill management.