Exploration of natural fiber‐reinforced polymer composites (NFRPCs) in cutting‐edge applications is due to phenomenal properties, such as lightweight, low‐cost, and environmental aspects. NFs can effectively compete to the synthetic fibers in terms of mechanical, thermal and acoustic properties. As a result, the invention and innovation of natural fiber (NF) composites for commercial purposes has increased dramatically in recent years to meet the growing demand of the industrial sectors. Materials are the cornerstone of any manufacturing industry. NFRPCs are a good alternative to conventional materials because of their relatively high mechanical properties and lower production energy. NFs decrease the cost of the material by 5% while reducing the weight of the composite by 10% and the manufacturing energy by 80%. A lot of work has been done to enhance NFRPCs' mechanical properties to overcome their drawbacks, such as poor fiber‐to‐matrix adhesion, thermal stability, and moisture absorption. However, for better mechanical properties, it is crucial to understand the fibers' embedded manufacturing technique and the appropriate fiber weight percentage with appropriate matrix. This review article discusses composites made of NFs providing a comprehensive and up‐to‐date overview of the field of NFRPCs, focusing on recent advancements in preparation techniques, improvements in mechanical properties such as tensile, flexural and impact strength of NFRPCs with various fiber types, fiber weight ratio, fiber‐to‐matrix ratio for appropriate engineering applications, and elucidating future research directions by analyzing trends and challenges in the field. The aim of this review article is to provide a deep evaluation of the progress made in the field of NFRPCs, with the ultimate goal of advancing knowledge and understanding of this field.