Agro and industrial wastes are rich in bioactive compounds. These wastes can be used as an alternate source for the production of different valuable products as the raw material in various industries. The use of agro-industrial wastes as raw materials can help to reduce the production cost and also reduce the pollution load from the environment. Agro-industrial wastes are used for manufacturing of enzymes, biofertilizer, biofuel, antibiotics, and other chemicals through solid state fermentation (SSF). A variety of microorganisms are used for the production of these valuable products through SSF processes. This reviewed work was aimed at bioconversion of agricultural and industrial wastes to generate valuable products.