Abstract In cyclodextrin science, water has been almost exclusively employed as solvent, and this imposes non-negligible limitations to the scope of applications. Accordingly, deep eutectic solvents, constructed from hydrogen-bonding donors and acceptors, have been attracting much interest as important substitutes of water. This review comprehensively covers chemical and physicochemical features of cyclodextrins in these eco-friendly solvents. In one category, cyclodextrins or their derivatives are dissolved as solutes in conventional deep eutectic solvents. All of α-, β-, and γ-cyclodextrins efficiently form inclusion complexes with various guest molecules, exactly as observed in water. Notably, chemically modified cyclodextrins (e.g., 2-hydroxypropyl-cyclodextrins) form still more stable inclusion complexes than native cyclodextrins. Alternatively, deep eutectic solvents are prepared by combining cyclodextrins with other hydrogen-bonding components. The cyclodextrin units in these mixtures also form inclusion complexes with guest molecules. It has been proposed that enhanced flexibility of cylindrical structures of cyclodextrins allows effective induced-fit to stabilize inclusion complexes. The applications of these systems widely range from catalysis for organic synthesis to extraction, analysis, pharmaceutics, and many other fields. High solubilities of CDs and various chemicals in these solvents guarantee high productivity of target transformation, and unprecedentedly novel functions are promising for these unique systems.