Changes in diet trends have resulted in decreased consumption of bakery products; this has a positive effect on efforts to find technological solutions to satisfy both consumers and producers. One of the suggestions is to make use of the properties of transglutaminase. Its use may help producing bakery products with a new high quality. Transglutaminase (TG) is an enzyme capable of modifying proteins; therefore, it is an attractive additive of technological significance for the food industry. The paper reviews the properties of this enzyme with particular focus on the advantages of its applications in the bakery industry. TG has a beneficial effect on bakery products; among other things, it improves the external appearance of products, increases the specific volume, and improves the pore homogeneity in crumb. The addition of TG improves the bread yield while keeping the so called “clean label” intact. Moreover, transglutaminase has an effect on improving the quality of gluten-free bakery products; also, it is possible, as a result of the enzyme-catalyzed reactions, to reduce allergenicity or intolerance of traditional bakery products.