Purpose of Review <p>Fruit and vegetable beverages containing probiotics, such as lactic acid bacteria (LAB) are emerging as dairy product alternatives. LAB fermentation can metabolize phenolic compounds reducing their content and bioaccessibility. However, probiotic enzymes may also release phenolic compounds from the food matrix structure, enhancing their extractability and positively impacting their bioaccessibility, bioavailability, and antioxidant properties.</p> Recent Findings <p>This review highlights a clear trend: when phenolic compound content increases during fermentation, bioaccessibility and bioavailability improve accordingly. Interestingly, even when fermentation reduces the phenolic compound content, bioaccessibility often remains elevated due to increased digestive extractability facilitated by probiotic metabolization. Additionally, phenolic compound-derived secondary metabolites synthesized during fermentation may enhance the antioxidant capacity of beverages.</p> Summary <p>Fruit and vegetable beverages fermented with probiotics offer a promising strategy to enhance their functional properties. Future research should explore the complex interactions between phenolic compounds and probiotics during fermentation and in vivo bioavailability studies.</p>