This study examines a lightweight thermal and acoustic insulation material, produced starting from a hydrogel‐based mixture composed by renewable biopolymer and fiberglass waste powders. The gel 3D porous network is preserved after water removal by sublimation, resulting in a lightweight thermal and acoustic insulation material with good overall performance. Mechanical, thermal, and acoustic properties can be tuned as a function of biopolymer and additives concentration. This material addresses environmental concerns both in terms of secondary raw sources use and fiberglass waste disposal. Moreover, contrary to mineral wools currently on the market, it can overcome the problem of fiber release, with significant human health benefits. Thanks to its good properties and its fabrication process based on a circular economy approach, it can be appealing for thermal and acoustic insulating applications in building and industrial sectors and also in terms of environmental footprint.