<p>The quest for advanced biomaterials that mimic the native extracellular matrix (ECM) has led to significant interest in multicomponent, or ternary, systems. Among these, the combination of gelatin, alginate (Alg), and hyaluronic acid (HA) has emerged as a particularly promising platform due to the unique and complementary properties of each polymer. Gelatin provides cell-adhesive motifs and thermal responsiveness, Alg contributes ionic crosslinking capability and structural integrity, and HA offers high hydrophilicity, bioactive signaling, and inherent roles in tissue morphogenesis and wound repair. This review explores the potential of the gelatin-Alg-HA ternary system across a spectrum of biomedical applications. Its pivotal role in tissue engineering and 3D bioprinting is examined, where it is utilized as a versatile bioink for creating scaffolds for skin, cartilage, bone, and vascular tissues. Furthermore, its utility in controlled drug and bioactive molecule delivery is highlighted, leveraging its tunable hydrogel networks for sustained and targeted release. Besides, studies have shown that this composite excels as a bioink, combining excellent printability, high cell viability, and tunable mechanical properties to create physiologically relevant 3D tumor models that mimic the native tumor microenvironment. Finally, the review addresses the current challenges and outlines future perspectives, including chemical functionalization, integration with nanotechnology, and personalized medical approaches. This comprehensive analysis underscores the gelatin-Alg-HA ternary system as a powerful and adaptable toolkit for next-generation regenerative medicine and therapeutic strategies.</p>