<p>Plant lipases offer a sustainable and promising alternative for various industrial applications, with increasing use in biocatalytic processes in recent years. Leveraging plants as renewable resources reduces dependence on animal or microbial sources, providing significant potential for sustainable lipase production. These lipases are biodegradable and less toxic, enhancing their cost-effectiveness, particularly when sourced from plants with additional economic value. The diversity of plant species offers a wide array of lipases with different properties, broadening their industrial applications. Additionally, integrating plant lipase production into existing agricultural processes by using agricultural residues or by-products as enzyme sources can reduce costs and add value to waste materials. Despite their potential, several challenges must be addressed for the effective utilization of plant-derived lipases. Reducing extraction and purification costs is essential to make these enzymes competitive with other sources. Advancements in the biochemical and structural characterization of plant lipases have facilitated enzymatic engineering approaches to enhance enzyme stability, specificity, and catalytic efficiency. A review of the current research can help identify gaps and suggest new directions for enzyme development and technological advancements. Understanding the mechanisms of action and unique properties of plant lipases can drive innovations in biocatalytic processes. This review aims to highlight the characteristics of plant lipases and the challenges in their extraction, purification, and stability. This study conducted a narrative review using a database of relevant studies, selecting 92 studies. The future of plant lipases holds great promise for transformative impacts across various industries, promoting more sustainable and innovative practices.</p> Graphical abstract <p></p>