Chitosan is a cationic polymer obtained by deacetylation of chitin, found abundantly in crustacean, insect, arthropod exoskeletons, and molluscs. The process of obtaining chitin by the chemical extraction method comprises the steps of deproteinization, demineralization, and discoloration. To obtain chitosan, the deacetylation of chitin is necessary. These polymers can also be extracted through the biological extraction method involving the use of microorganisms. Chitosan has biodegradable and biocompatible properties, being applied in the pharmaceutical, cosmetic, food, biomedical, chemical, and textile industries. Chitosan and its derivatives may be used in the form of gels, beads, membranes, films, and sponges, depending on their application. Polymer blending can also be performed to improve the mechanical properties of the bioproduct. This review aims to provide the latest information on existing methods for chitin and chitosan recovery from marine waste as well as their applications.