Silk fibroin (SF), a natural protein derived from silkworms, has emerged as a promising biomaterial due to its biocompatibility, biodegradability, degradation rate, and tunable mechanical properties. This review delves into the intrinsic attributes of SF that make it an attractive candidate for scaffold development in tissue engineering and regenerative medicine. The distinctiveness of this comprehensive review resides in its detailed exploration of recent advancements in the fabrication techniques of SF‐based fibrous scaffolds, namely electrospinning, freeze‐drying, and 3D printing. An in‐depth analysis of these fabrication techniques is conducted to illustrate their versatility in customizing essential scaffold characteristics, such as porosity, fiber diameter, and mechanical strength. The article meticulously discusses process parameters, advantages, and challenges of each fabrication technique, highlighting the innovative advancements made in the respective field. Furthermore, the review goes beyond fabrication techniques to provide an overview of the latest biomedical applications and research endeavors utilizing SF‐derived scaffolds. From nerve regeneration and wound healing to drug delivery, bone regeneration, and vascular tissue engineering, the diverse applications underscore the versatility of SF in adopting various biomedical challenges. Finally, the article emphasizes the need for standardized characterization techniques, scalable manufacturing processes, and long‐term in vivo studies.