In recent years, there has been a significant accumulation of waste in the environment, and it is expected that this accumulation may increase in the years to come. Waste disposal has massive effects on the environment and can cause serious environmental problems. Thus, the development of a waste treatment system is of major importance. Agro-industrial wastewater and waste residues are mainly rich in organic substances, lignocellulose, hemicellulose, lignin, and they have a relatively high amount of energy. As a result, an effective agro-waste treatment system has several benefits, including energy recovery and waste stabilization. To reduce the impact of the consumption of fossil energy sources on our planet, the exploitation of renewable sources has been relaunched. All over the world, efforts have been made to recover energy from agricultural waste, considering global energy security as the final goal. To attain this objective, several technologies and recovery methods have been developed in recent years. The microbial fuel cell (MFC) is one of them. This review describes the power generation using various types of agro-industrial wastewaters and agricultural residues utilizing MFC. It also highlights the techno-economics and lifecycle assessment of MFC, its commercialization, along with challenges.