As the need for compact, cost‐effective, and reliable laser sources continues to rise, fiber lasers have gained widespread interest in science and technology. In recent years, passively mode‐locked fiber lasers (PMLFLs) have emerged as pivotal tools for generating ultrashort pulses, propelling advancements across various domains including communication, manufacturing, medicine, defense, and security. Amongst the various types of lasing states supported by a PMFL, the emphasis in this review is on the noise‐like pulses (NLP) and their potential applications in supercontinuum generation (SCG). Interestingly, the quasi‐stationary operation of the NLP envelope containing numerous chaotic sub‐pulses has facilitated relatively high energy and broad bandwidth compared to standard mode‐locked laser pulses. Moreover, the NLP generation goes beyond a specific cavity arrangement, the nature of mode‐locking or cavity dispersion. Therefore, through this review, the foremost aim is to report the differences in NLPs across various experimental settings reported so far and highlight the strategies beneficial for high‐energy and broadband NLP development directly from a fiber oscillator. Secondly, the application of NLP as a seed laser is examined to stimulate SCG in different types of fibers, underlining the improved supercontinuum characteristics over the conventional ultrashort pulse pumping schemes. Finally, the benefit of NLP‐seeded SCG for various bio‐medical and industrial applications are highlighted, thanks to the broader and flatter continuum achievable through compact experimental settings.