The generation of solid waste and lignocellulosic biomass (LCB) residues and their environmentally responsible disposal have emerged as major global challenges. A major part (around 12%) of solid waste is plastic, and the increased accumulation has become a serious public health and environmental hazard. For the combined management of residual LCB biomass and plastic waste, thermochemical conversion, particularly gasification, appears to be a potential alternative. Gasification is a process that turns high carbon-containing solid feedstocks into a combustible gas mixture known as syngas or producer gas based on the gasifying agent. Co-gasification (the gasification of two distinct feedstocks) has the potential to facilitate eco-friendly plastic waste disposal while also contributing to the production of green energy. The literature on the co-gasification of LCB and plastic waste is reviewed in the current study. These are mostly experimental studies on biomass and plastics carried out in various reactors with multiple gasifying mediums. The synergistic effects of various feedstock compositions and attributes are examined during co-gasification using experimental studies and reactor-level modeling. The impacts of operating parameters on the gas yield, tar formation, and gasifier performance are also analyzed. Finally, the challenges, research gaps, and the way toward commercialization in the context of co-gasification of various combinations of LCB and plastics are presented.