Bio‐catalysis is a versatile and powerful tool in organic synthesis, hazardous chemical remediation, biosensors, and industrial sectors. It has been claimed that laccases can function as an intriguing class of biocatalyst in organic chemistry. They are highly favourable catalysts and offer advantages over conventional oxidants and toxic metal catalysts by exhibiting high activity in aqueous media under mild conditions and also work on diverse functional groups possessing substrates maintaining the atom economy. They coordinate well with molecular oxygen and perform chemo selective oxidation reactions, as well as a plethora of other reactions. However, this review is intended to cover molecular oxygen‐assisted laccase catalysis in organic transformations and its significance in industry.
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