The yeast Yarrowia lipolytica has been industrially adopted for docosahexaenoic acid and eicosapentaenoic acid production under good manufacturing practices over 2 decades. In recent years, it has claimed attention for novel biotechnological applications, such as a functional feed additive for animals. Studies have demonstrated that this yeast is safe and has probiotic and nutritional properties for mammals, birds, fish, crustaceans, and molluscs. Animals fed Y. lipolytica enhanced productive and immune parameters, as well as modulated microbiome, fatty acid composition, and biochemical profiles. Additionally, some Y. lipolytica-derived compounds have improved productive performance, immune status, and disease resistance in animals. Therefore, the aim of this review is to identify and discuss research advances on the potential use of this yeast for animals of economic interest. Challenges, opportunities, and trends were identified and envisioned in the near future for this industrially produced yeast.