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Simple Summary Bioindicators are organisms that react to the quality or characteristics of the environment and their changes. They are vitally important to track environmental alterations and take action to mitigate them. As choosing the right bioindicators has important policy implications, it is crucial to select them to tackle clear goals rather than selling specific organisms as bioindicators for other reasons, such as for improving their public profile and encourage species conservation. Bats are a species-rich mammal group that provide key services such as pest suppression, pollination of plants of economic importance or seed dispersal. Bats show clear reactions to environmental alterations and as such have been proposed as potentially useful bioindicators. Based on the relatively limited number of studies available, bats are likely excellent indicators in habitats such as rivers, forests, and urban sites. However, more testing across broad geographic areas is needed, and establishing research networks is fundamental to reach this goal. Some limitations to using bats as bioindicators exist, such as difficulties in separating cryptic species and identifying bats in flight from their calls. It is often also problematic to establish the environmental factors that influence the distribution and behaviour of bats. Abstract Bats show responses to anthropogenic stressors linked to changes in other ecosystem components such as insects, and as K-selected mammals, exhibit fast population declines. This speciose, widespread mammal group shows an impressive trophic diversity and provides key ecosystem services. For these and other reasons, bats might act as suitable bioindicators in many environmental contexts. However, few studies have explicitly tested this potential, and in some cases, stating that bats are useful bioindicators more closely resembles a slogan to support conservation than a well-grounded piece of scientific evidence. Here, we review the available information and highlight the limitations that arise in using bats as bioindicators. Based on the limited number of studies available, the use of bats as bioindicators is highly promising and warrants further investigation in specific contexts such as river quality, urbanisation, farming practices, forestry, bioaccumulation, and climate change. Whether bats may also serve as surrogate taxa remains a controversial yet highly interesting matter. Some limitations to using bats as bioindicators include taxonomical issues, sampling problems, difficulties in associating responses with specific stressors, and geographically biased or delayed responses. Overall, we urge the scientific community to test bat responses to specific stressors in selected ecosystem types and develop research networks to explore the geographic consistency of such responses. The high cost of sampling equipment (ultrasound detectors) is being greatly reduced by technological advances, and the legal obligation to monitor bat populations already existing in many countries such as those in the EU offers an important opportunity to accomplish two objectives (conservation and bioindication) with one action.