The aim of this investigation is to produce and characterize biosurfactant from Streptomyces sp. HRB1 and to evaluate its biomedical and bioremediation potential. Biosurfactant producing property of Streptomyces sp. HRB1 isolated from petroleum contaminated soil was confirmed by hemolytic and oil spread assays. Based on the results of FT-IR spectral and GC-MS analysis, the biosurfactant was confirmed as glycolipid type. Biosurfactant from Streptomyces sp. HRB1 exhibited 71% inhibition against Pseudomonas aeruginosa biofilm formation, 77.33% quorum sensing inhibition property against Chromobacterium violeceum MTCC 2656, more than 80% inhibition in antioxidant assays namely, DPPH, ABTS, and metal chelation, promising anti-proliferative activity against leukemia and myeloma cells with low IC 50 values, 96% decolorization of malachite green within 48 h of reaction time, and minimal toxicity against normal cell lines in dose-dependent manner. The taxonomic position of the potential strain HRB1 was further confirmed as Streptomyces enissocaesilis HRB1 based on their phenotypic and molecular characteristics. To conclude, Streptomyces enissocaesilis HRB1 isolated from petroleum-contaminated soil is a promising source for low-cost production of glycolipid biosurfactant with potential biomedical and environmental applications such as antiphytofungal, antibiofilm, anti-quorum sensing, antioxidant, anticancer, and dye degradation properties.