Ionic liquids (ILs) are popular designer green chemicals with great potential for use in diverse energy-related applications. Apart from the well-known low vapor pressure, the physical properties of ILs, such as hydrogen-bond-forming capacity, physical state, shape, and size, can be fine-tuned for specific applications. Natural gas hydrates are easily formed in gas pipelines and pose potential problems to the oil and natural gas industry, particularly during deep-sea exploration and production. This review summarizes the recent advances in IL research as dual-function gas hydrate inhibitors. Almost all of the available thermodynamic and kinetic inhibition data in the presence of ILs have been systematically reviewed to evaluate the efficiency of ILs in gas hydrate inhibition, compared to other conventional thermodynamic and kinetic gas hydrate inhibitors. The principles of natural gas hydrate formation, types of gas hydrates and their inhibitors, apparatuses and methods used, reported experimental data, and theoretical methods are thoroughly and critically discussed. The studies in this field will facilitate the design of advanced ILs for energy savings through the development of efficient low-dosage gas hydrate inhibitors.