In the refining industry, Y-type faujasite (FAU) plays an irreplaceable role, being widely used to convert crude oil into more valuable products such as gasoline. However, the demand for fuels and chemicals stimulates the search for alternatives, showing the applications of FAU beyond producing value-added chemicals from petroleum-based derivatives. These alternative applications are further enhanced from active sites that emerge in zeolites when iron is incorporated by a sonochemical treatment. Given that ultrasonic irradiation promotes mass transfer, uniform coverage of active sites is expected to produce more efficient catalysts. Likewise, Fe-zeolites catalyze a wide range of reactions in mild conditions, linked to the research of bio-refinery, biomimicry and environmental remediation. This work explores the potential of a Fe-Y zeolite prepared by a sono-assisted ion exchange method in different applications: biomass conversion (lactose hydrolysis), enzyme mimetic materials (partial oxidation of benzene to phenol) and transformation of renewable energy (photodegradation of nitrobenzene and rhodamine B). The modification of FAU was performed at different sonication times 5, 15, 30 and 120 min and characterized by X-ray diffraction analysis (XRD), scanning electron microscopy (SEM), N2 adsorption-desorption isotherms, magnetic and non-magnetic thermogravimetric analysis (MTGA and TGA), zeta potential (ζ), Fourier-transformed Infrared (ATR-FTIR), and ultraviolet–visible diffuse reflectance spectroscopy (UV–Vis DRS). Finding that the modification of zeolite Y with Fe species enhances its activity for the tested applications, owing their catalytic activity primarily to α-Fe (II) sites. Presenting the sono-assisted ion exchange method as an alternative for introducing Fe species and enhancing the catalytic activity of zeolites.