Improvements in agricultural methods and technology, spurred by the Green Revolution and the rapidly increasing human population, have resulted in the rise of agro-industries over the past five decades. This, in turn, led to the production of high amounts of waste, such as husks, bagasse, and pulp residues of fruits. These agro-industrial wastes and residues have the potential for conversion into new products with increased value while reducing environmental pollution. Vermicomposting technology has emerged over the past few decades as a sustainable and cost-effective treatment method for effectively utilizing wastes from a variety of agro-industrial processes and turning them into products with additional value for use in land restoration techniques. Vermicompost, the end result of the process, is a humus-like, finely ground material that can be used as a fertilizer source to reintegrate organic matter into agricultural soils. This makes the process an attractive and sustainable treatment option among researchers and organic farmers. The present chapter is intended to provide information on the processes involved in vermicomposting, the use of vermicompost for agricultural soil restoration and increment in crop yield, and its economic importance.