This paper analyzes the potential of coatings based on xylan derivatives and chitosan to provide barrier properties and antimicrobial protection for paper food packaging and also to substitute the synthetic materials currently used in the food packaging industry. Colloidal dispersions of xylan derivatives (hydrophobized xylan with alkyl ketene dimers—XyAKD—and acetylated xylan—XyAc) and a chitosan biopolymer (Ch) were applied as coatings in single and two successive layers on a paper substrate using a laboratory automatic film applicator. The assessment of the water and fatty compound barrier properties of coated paper samples showed differences in effectiveness among xylan derivatives and their combination with chitosan. Generally, xylan derivative coatings improved the barrier and antimicrobial features of coated papers compared with native xylan. However, important improvements were obtained by adding to the coating formula a chitosan biopolymer. Thus, the best barrier properties for water, water vapors, oils and greases were obtained for paper coated with the acetylated xylan and chitosan formula in a single layer, where values of 30 g/m2.day for the water vapor transmission rate (WVTR), a 92.8° contact angle (CA) and a KIT rating of 8 were achieved. All coated paper samples exhibited the total inhibition of Bacillus sp. both after 24 and 48 h. Based on the obtained results in this study, one can conclude that the area of application of xylan hemicelluloses could be extended. Their utilization in appropriate chemical structures and combinations as coatings for paper can be a sustainable alternative for the food packaging industry.