Environmental sustainability and circular economy approaches have gained increasing attention in recent years, encouraging the repurposing of agro-industrial waste. One such waste is spent coffee grounds (SCG), a by-product of coffee production that remains largely unused despite its bioactive potential. This study explores the use of SCG in cosmetic exfoliant formulations, aiming to develop effective and eco-friendly products. Initially, twelve preliminary exfoliant formulations were developed, tested, and evaluated for physicochemical stability. Based on test results, seven formulations were selected for further development, incorporating SCG in concentrations of 2%, 5%, and 10%. Final formulations were characterized through organoleptic analysis, pH measurements, spreadability, and mechanical and thermal stress evaluations. Additionally, exploratory sensory analysis was conducted with 21 participants to assess preferences of chosen formulations with most favorable physicochemical characteristics and stability. Participants evaluated the exfoliants’ appearance, scent, texture, feel, and post-application skin condition. The formulations with 5% SCG were most positively rated, particularly regarding texture and ease of application. The findings suggest that SCG can be successfully incorporated into cosmetic exfoliant formulations, contributing to both product innovation and environmental sustainability.