Exopolysaccharide (EPS) biomolecules produced by lactic acid bacteria (LAB) are of prodigious interest due to their unique structural, physico-chemical, and functional characteristics. Several genera of LAB including Enterococcus spp. have been studied for EPS production by various research groups worldwide. EPS produced by various strains from Enterococcus spp. have shown a wide range of functional and technological properties with potential commercial applications. Numerous techniques are used in the characterization of Enterococcus EPS to reveal their structure, linkage, monosaccharide units, functional groups, morphology, and thermal properties. Bioactive potentials of Enterococcus EPS include antioxidant, antibacterial, antibiofilm, anticancer, immunological, prebiotic, and antidiabetic potentials which have been widely reported. These functional and biological properties make Enterococcus EPS a candidate of great importance for multiple applications in the area of food, pharmaceuticals, biomedical and environmental. This review is focused on EPS produced by various strains of the Enterococcus genus isolated from different sources. Several procedures and parameters involved in the production and purification of Enterococcus EPS are also deliberated along with the functional aspects and potential applications.