Bacteriocins are ribosomally synthesized peptides produced by bacteria which can kill other bacteria. Those produced by lactic acid bacteria (LAB) are of great interest as they are often employed in food processing and food fermentations as natural biopreservatives. In this review, we discuss the implementation of bioengineering to enhance the antimicrobial activity, antibacterial spectrum and physico-chemical properties of LAB bacteriocins. Additionally, we discuss the potential applications of bacteriocin derivatives for use as promising food preservatives alone or in combination with other naturally derived antimicrobials as a form of hurdle technology and the regulatory status of strains engineered through food-grade approaches.