Biomass waste, which is biodegradable and vastly underutilized, is generated in huge quantities worldwide. Forestry and agricultural biomass wastes are notable for their wide availability, high yield, biodegradability, and recyclability. The accumulation of these wastes not only occupies valuable land but causes serious environmental pollution, which can ultimately harm human health. Therefore, leveraging scientific technology to convert forestry and agricultural bio-waste into bioenergy and other valuable products is crucial. In this paper, common forestry and agricultural bio-waste such as straw, rice husks, livestock manure, tree branches, sawdust, and bioenergy (bioethanol, biogas, biodiesel, biohydrogen) were selected as keywords, with the theme of green and efficient utilization. This paper provides a comprehensive review of the sources of biomass waste, existing recycling technologies, and the potential of forestry and agricultural bio-waste as material additives and for conversion to biomass energy and other derivatives, along with future recycling prospects.