This work aims to present an alternative green plasticizer for natural rubber (NR) compounds to avoid using petroleum-based plasticizer, which causes air pollution and impacts human health. The application of Moringa oil (MO) as a bioplasticizer was studied in both gum and carbon black (CB) reinforced NR compounds for a better understanding of the plasticization mechanism and the effect of MO on the properties of NR and NR/CB vulcanizates compared with the traditional plasticizer naphthenic oil (NO). Results indicated that the addition of MO into NR and NR/CB compounds improved cure rate index (CRI), mechanical properties, and rolling resistance compared with NO plasticized compounds. The glass transition temperature (Tg) of both gum and CB filled NR vulcanizates was affected noticeably by the presence of MO. In addition, there was no significant difference between using MO and NO on the cross-link density of the vulcanizates, nor dispersion of CB in the NR/CB vulcanizates. The plasticization mechanisms of MO and NO in the NR compounds were proposed and discussed. As a result, the present study suggests that MO could be used as an alternative nontoxic plasticizer for NR and NR/CB compounds while simultaneously enhancing the static and dynamic properties of the NRs.