Abstract: Bioplastics originating from waste biomass present a viable remedy to the environmental dilemmas associated with traditional plastics, thereby reducing dependency on fossil fuels and mitigating carbon emissions. This review investigates the utilization of diverse waste biomass sources, encompassing agricultural residues, food waste, industrial by-products, municipal solid waste, and forest biomass residues, in the synthesis of bioplastics. Technological innovations in feedstock pretreatment, bioconversion methodologies, and polymerization techniques have markedly enhanced the efficiency and material characteristics of bioplastics, establishing them as formidable alternatives to petroleum-derived plastics. Notwithstanding these advancements, obstacles such as feedstock inconsistency, scalability issues, technological limitations, and consumer acceptance persistently impede the extensive adoption of bioplastics. The ecological advantages of bioplastics, particularly concerning their diminished carbon footprint and potential for biodegradability, are underscored through life cycle assessments (LCAs). Government policies, the increasing market demand for sustainable products, and advancements in emerging technologies, including synthetic biology and AI-enhanced process optimization, are propelling the commercialization of bioplastics derived from waste biomass. The incorporation of bioplastics within a circular economy framework, coupled with considerations for long-term sustainability, positions them as a pivotal element in fostering a more sustainable and environmentally friendly future. This review offers a thorough examination of the present landscape, challenges, and future prospects of bioplastics production from waste biomass.