Yeast and lactic acid bacteria (LAB) are widely used for the production of fermented foods and play a pivotal role in the production of fermented foods, and their modes of action in the fermentation system directly determines the quality of the final product. Studying the interaction mode between yeast and LAB in the fermentation system is helpful to reveal the relationship between microorganisms and food functions, and is of great significance to the positive regulation of the fermentation process. The interaction modes between yeast and LAB during food fermentation are reviewed herein, including synergy/antagonism, nutrient and metabolite exchange, quorum sensing, and biofilm coating. Besides, we discuss the positive role of yeast-LAB interaction in improving the flavor and texture of fermented foods, shortening the fermentation cycle, and enhancing the probiotic characteristics of the product. Finally, future prospects for the application of yeast and LAB as a mixed starter culture for enhancing fermentation are discussed.