Nuclear magnetic resonance (NMR) spectroscopy is a robust method, which can rapidly analyze mixtures at the molecular level without requiring separation and/or purification steps, making it ideal for applications in food science. Despite its increasing popularity among food scientists, NMR is still an underutilized methodology in this area, mainly due to its high cost, relatively low sensitivity, and the lack of NMR expertise by many food scientists. The aim of this review is to help bridge the knowledge gap that may exist when attempting to apply NMR methodologies to the field of food science. We begin by covering the basic principles required to apply NMR to the study of foods and nutrients. A description of the discipline of chemometrics is provided, as the combination of NMR with multivariate statistical analysis is a powerful approach for addressing modern challenges in food science. Furthermore, a comprehensive overview of recent and key applications in the areas of compositional analysis, food authentication, quality control, and human nutrition is provided. In addition to standard NMR techniques, more sophisticated NMR applications are also presented, although limitations, gaps, and potentials are discussed. We hope this review will help scientists gain some of the knowledge required to apply the powerful methodology of NMR to the rich and diverse field of food science.