The over usage plastics have possessed serious threat to the ecological system. Thus progressive advancement in fabricating biodegradable and renewable bioplastics is persuasively required to furnish an effective alternative to non-biodegradable plastics. In this view, the current work highlights the production of starch based bioplastic films using waste Colocasia esculenta (taro herb) as a viable starting precursor. The functional ability of developed taro starch based film was further modified by incorporating carbon dots (CQDs) fillers generated from the waste slurry produced during starch extraction from taro herbs. The optimization of films production was achieved by varying the CQDs amount (0.4 %, 0.8 %, 2 % and 4 % w/w) on taro-based films using casting technology. The data illustrates that the addition of CQDs has the ability to enhance the fluorescence property, mechanical properties (Tensile Strength 0.332–4.635 MPa, Elongation at break 42.45–547.63 %) and water resistance ability of films (Moisture content 15–6.4 %, Water Solubility 50–30 % Water Vapour Transmission Rate 2.0012–1.0054 g−2 h−1 and Water Contact Angle 40.6–89.6°). The developed films are found to be thermally stable. The formed films possessed anti-oxidative abilities which safeguard the film from oxidative attacks and ultimately protect the film from the external environment. The fluorescence nanosensor probe has further been developed by utilizing CQDs embedded in a starch-based bioplastic nanocomposite. The developed sensor displayed selective sensing ability towards Fe2+ ion with high sensitivity and accuracy in aqueous medium. Thus, the proposed sensor in this work offers a portable, efficient, low-cost, disposable, non-lethal, and eco-friendly nanosensor for on-site monitoring of metal ion for the food, beverage, and pharmaceutical industries. This is one of the primary reports where metal ions sensing is reported for Taro@CQDs nanocomposites based films. Our outcomes of this work hold significant relevance to providing a smart sensory and biodegradable probe for metal ion sensing by using waste resources, thus offering a better and sustainable alternative for environmental remediation applications.