AbstractCircular bio‐economy of biogenic resources designates the plunging use of such resources, adopting a systemically formatted pathway towards sustainable economic development. Aquaculture has been perceived to play a pivotal role in supplying protein and mineral rich organic food to a growing human population. The exponential growth of aquaculture sector during the last four decades has established itself in a fundamental way to supply the global need of valuable animal protein. However, the on‐going production strategies may likely be proved unsustainable if the present level of exploitation and resource use continues. Emphasis only on augmenting productivity and yield with insufficient and/or inefficient pollution control measures, and water quality clean‐ups, direct discharge of effluents in the open ambient environment from aquaculture production systems have manifested in variable degrees of pollution particularly in the open water bodies; thereby causing significant impairment of these ecosystems. The paper discusses the various techniques of bioprocessing in re‐circulatory aquaculture system, aquaponics, biofloc technology, waste water aquaculture and circular enclosure culture for inland water bodies to recycle the waste generated from fisheries and aquaculture and converting the same to fish flesh, at the same time reducing the impact on environment. The study also highlights the potential attributes and benefits of circular bio‐economy, discusses recent advances and updates the current status of knowledge base for future research planning towards sustainability. Rationality perspectives of the system design with regards to simplicity, energy efficiency and budget in attaining circularity emerged as pertinent factors in bio‐circularity in resource use in aquaculture.