Starch-based films with phenolic extracts could replace the use of petroleum-based plastics. In this study, octenyl succinate starch (OSS) films with pecan nutshell extract (PSE) or hazelnut skin extract (HSE) were prepared. The water resistance, as well as the optical, physical, mechanical, and biodegradable properties of these films, were investigated. The PSE and HSE improved the water resistance (decreasing the solubility to 17% and increasing the contact angle to 96.80°) and UV-light barrier properties of the films. For PSE and HSE, as their concentrations increased, the film rigidity decreased since these extracts acted as plasticizers. Micrographs obtained by scanning electron microscopy (SEM) depicted a homogeneous surface as a result of extracts dispersion through the polymeric matrix and the interactions between the phenolic compounds (PC) of the extracts and the OSS. The phenolic extracts from nut by-products and octenyl succinic anhydride (OSA) starch could be used to develop films to replace the conventional plastics.