In today’s world, the problem of “white pollution” is becoming more and more serious, and many countries have paid special attention to this problem, and it has become one of the most important tasks to reduce polymer waste and to protect the environment. Due to the degradability, safety, economy and practicality of biodegradable packaging film materials, biodegradable packaging film materials have become a major trend in the packaging industry to replace traditional packaging film materials, provided that the packaging performance requirements are met. This paper reviews the degradation mechanisms and performance characteristics of biodegradable packaging film materials, such as photodegradation, hydrodegradation, thermo-oxidative degradation and biodegradation, focuses on the research progress of the modification of biodegradable packaging film materials, and summarizes some challenges and bottlenecks of current biodegradable packaging film materials.