Currently, the biodiversity loss, climate change, pollution, and depletion of resources are the biggest challenges. These have prompted a move away from the conventional linear economy toward more sustainable and regenerative economic systems. The sustainable circular bioeconomy (SCB) combines the principles of both the circular economy and the bioeconomy. It encourages the utilization of renewable biological resources, waste valorization, and the implementation of closed-loop systems to reduce the consumption of fossil based fuels and decrease the environmental footprint. This chapter focuses on the chronology of the evolution of economic models from the linear economy to circular economy, then to the bioeconomy, towards sustainable circular bioeconomy. It also discusses the important principles of SCB, such as renewable resource management, circularity of bio-based materials, restoration of ecosystems, innovation-led growth, and social inclusion. With a multidisciplinary approach, the chapter points out the major technological, policy, economic, and sociocultural impediments to the large-scale adoption of SCB practices. In addition, the chapter highlights the critical need to overcome systemic and cross-sectoral challenges to realize the sustainable development goals (SDGs). It further focuses on diverse global strategies and case studies from the European Union, United States, and India, highlighting their unique approaches to fostering bio-based innovation and addressing national challenges.