The waste-to-value emerging economic system presents opportunities across diverse sectors amid challenges. The current prevalent waste management system of dumping on the earth’s top surface or water bodies would deter sustainable development goals if not managed. Such actions threaten the well-being of all and the sustainability of our cities and the environment. Global advanced industrialization and the rapid growth of human civilization continue to increase the trend of waste generation. Waste valorization through circularity and biodegradation technologies has been researched to have the potential to produce high-value products while also mitigating the adverse effects of climate change from waste disposal. However, the lack of emerging technology strategies, limited understanding and communication, poor stakeholder awareness, cost-versus-profit uncertainty, and various process route limitations are some of the fundamental challenges. Nevertheless, biotechnological waste conversion techniques are green technologies with less negative impacts on the climate and the environment. This chapter concentrates on the challenges and opportunities in biotechnological waste valorization, considering its prospects in bioenergy, biochemicals, agriculture, and new materials. The eco-friendly and sustainable nature of this approach and its resultant products would have an overall effect on environmental pollution and climate change. To best understand the challenges, the generation and classification of waste, the current state of waste management, the waste-to-value concept, and the biotechnological conversion of waste techniques were discussed.