Increased environmental concerns and global warming have diverted effort all over the world to focus on renewable and sustainable resources for the next generation of composite products due to their recyclability, renewability, cost effectiveness, and satisfactory mechanical performance. Bio/natural fibers which are environment friendly materials employed as reinforcement have led to developing a biocomposite for reduction in greenhouse emission and carbon footprints. However, biofibers are also having some limitations that need to be addressed including poor compatibility between the reinforcing fiber matrices, high moisture absorption, swelling, poor chemical and fire resistance, and high dispersion of mechanical properties. A lot of research has been performed on physical and mechanical properties of natural fiber composite. Properties of such novel composite mainly depend on adhesion between fiber and matrices. Consequently, poor adhesion, high moisture absorption, and swelling lead to formation of crack in both the matrix and fiber. Therefore, numerous techniques have been tried till date to modify both fiber surfaces to enhance their adhesion and reduce their water absorption. This review article provides comprehensive information about effect of various surface modification techniques that include alkaline, silane, acetylation, permanganate, peroxide, benzoylation, acrylonitrile grafting, maleic anhydride grafted, acrylation, and isocyanate. In addition, the effects of cellulose, hemicellulose, lignin, and pectin of biofibers are also reported. This review concluded that chemical treatment of biofibers with 5% NaOH concentration improves the physical, mechanical, and thermal properties of the resulting composites compared to untreated fiber composites.