The pulp and paper industry is recognized as a well-established sector, which throughout its process, generates a vast amount of waste streams with the capacity to be valorized. Typically, these residues are burned for energy purposes, but their use as substrates for biological processes could be a more efficient and sustainable alternative. With this aim, it is essential to identify and characterize each type of waste to determine its biotechnological potential. In this context, this research highlights possible alternatives with lower environmental impact and higher revenues. The bio-based pathway should be a promising alternative for the valorization of pulp and paper industry wastes, in particular for bioproduct production such as bioethanol, polyhydroxyalkanoates (PHA), and biogas. This article focuses on state of the art regarding the identification and characterization of these wastes, their main applied deconstruction technologies and the valorization pathways reported for the production of the abovementioned bioproducts.