The farming of Tilapia (Oreochromis niloticus) has conquered the significant popularity in tropical and subtropical regions, primarily due to its remarkable faster growth rate. The growth performance of the species makes it an attractive choice for many fish farmers. Additionally, Tilapia exhibits a commendable resilience to disease, further enhancing its appeal as a farming option. Furthermore, the low trophic feeding levels of Tilapia contribute to its desirability, making it an efficient and sustainable choice for nutrition-conscious individuals. Due to the increasing prevalence of aquaculture production, there has been a significant surge in the demand for fishmeal. This particular protein source has relished the widespread popularity for many years and its demand has now more than doubled. The current growth rate of the aquaculture industry is outpacing the available fishmeal supplies, which are insufficient to meet the demand. According to scientific studies, it has been found that fishmeal can be effectively replaced with alternative sources without compromising the overall performance of the fish. This article presents a compelling case for the practicality of replacing fishmeal with alternative protein sources in the diet of Tilapia. These alternatives include terrestrial animal by-products, oilseed plants, single-cell proteins, and protein-rich plant derivatives. In order to mitigate the environmental impact of the fishmeal industry, it is crucial to implement measures that can effectively address this concern. Moreover, it is crucial to highlight the significance of these sources from a nutritional perspective. The blood meal, meat and bone meal are highly beneficial options for incorporating essential amino acids and protein into the diet of Tilapia. These alternatives offer a rich source of nutrients that can effectively replace fishmeal. The minerals instead of amino acids could improve plant protein performance. Due to inconsistent findings, aquatic plants and single-cell proteins in Tilapia meals should be carefully considered. Fishmeal replacers need biological and economic analyses. Long-term evaluations should be done in practical culture systems rather than labs. In conclusion, it is imperative for Tilapia producers to contemplate the utilization of alternative dietary sources, as extensive research has demonstrated the scientific feasibility of substituting the fishmeal in the diet of Tilapia.