This review reports recently published research related to the application of polysaccharide-based biodegradable and edible coatings (BECs) fortified with bioactive compounds obtained from plant essential oils (EOs) and phenolic compounds of plant extracts. Combinations of polysaccharides such as starches, pectin, alginate, cellulose derivatives, and chitosan with active compounds obtained from clove, lemon, cinnamon, lavender, oregano, and peppermint have been documented as potential candidates for biologically active coating materials for retardation of quality changes in fresh fruits. Additionally, polysaccharide-based active coatings supplemented with plant extracts such as cashew leaves, pomegranate peel, red roselle, apple fiber, and green tea extracts rich in phenolic compounds and their derivatives have been reported to be excellent substituents to replace chemically formulated wax coatings. Moreover, EOs and plant polyphenolics including alcohols, aldehydes, ketones phenols, organic acids, terpenes, and esters contain hydroxyl functional groups that contribute bioactivity to BECs against oxidation and reduction of microbial load in fresh fruits. Therefore, BECs enriched with active compounds from EOs and plant extracts minimize physiological and microbial deterioration by reducing moisture loss, softening of flesh, ripening, and decay caused by pathogenic bacterial strains, mold, or yeast rots, respectively. As a result, shelf life of fresh fruits can be extended by employing active polysaccharide coatings supplemented with EOs and plant extracts prior to postharvest storage.