Many-body localization is shown to suppress the imaginary parts of complex eigenenergies for general non-Hermitian Hamiltonians having time-reversal symmetry. We demonstrate that a real-complex transition, which we conjecture occurs upon many-body localization, profoundly affects the dynamical stability of non-Hermitian interacting systems with asymmetric hopping that respects time-reversal symmetry. Moreover, the real-complex transition is shown to be absent in non-Hermitian many-body systems with gain and/or loss that breaks time-reversal symmetry, even though the many-body localization transition still persists.