The amount of biomass wastes is rapidly increasing, which leads to numerous disposal problems and governance issues. Thus, the recycling and reuse of biomass wastes into value-added applications have attracted more and more attention. This paper reviews the research on biomass waste utilization and biomass wastes derived functional materials in last five years. The recent research interests mainly focus on the following three aspects: (1) extraction of natural polymers from biomass wastes, (2) reuse of biomass wastes, and (3) preparation of carbon-based materials as novel adsorbents, catalyst carriers, electrode materials, and functional composites. Various biomass wastes have been collected from agricultural and forestry wastes, animal wastes, industrial wastes and municipal solid wastes as raw materials with low cost; however, future studies are required to evaluate the quality and safety of biomass wastes derived products and develop highly feasible and cost-effective methods for the conversion of biomass wastes to enable the industrial scale production.