The food processing industry is a continuously developing sector that uses innovative technologies to efficiently process food products. During processing, food industries generate substantial amounts of by-products in the form of waste materials. This food waste consists of organic matter rich in bioactive compounds, such as polyphenols, carotenoids, and flavonoids. Improper management of food waste can adversely affect both the environment and human health, leading to environmental pollution and the release of greenhouse gas emissions. Thus, proper food waste management has become an urgent global issue. The presence of bioactive compounds (mainly polyphenols, flavonoids, and anthocyanins, but also carotenoids, alkaloids, proteins, lipids, and carbohydrates) in food waste holds the potential to transform them into valuable resources. Several sectors, including food and energy, have recognized food waste as an innovative source. Recently, much emphasis has been placed on optimizing the extraction yield of such bioactive compounds through the utilization of environmentally friendly and sustainable methodologies and solvents. Pulsed electric field (PEF)-assisted extraction is an emerging technique that holds promise for the utilization of waste materials. PEF technology can efficiently optimize the extraction of valuable compounds within a shorter time while minimizing solvent and energy consumption. In this review, we provide a comprehensive overview of the current state of PEF technology and its implications for recovering bioactive compounds from food waste. The integration of innovative technologies like PEF in the food processing industry can play a crucial role in managing food waste sustainably, reducing environmental impact, and harnessing the full potential of bioactive compounds contained in these waste materials. The objective of this critical review is to provide an overview of the utilization of PEF pretreatment for food by-products and to conduct a comparative analysis with other extraction techniques.