Food waste is a pressing global issue, with approximately 1.3 billion tons wasted annually, significantly impacting the environment, socioeconomic conditions, and food security. In developing countries like India, 22% of food grain output is lost due to inefficiencies in supply chains, storage, and transportation. The United Nations’ Sustainable Development Goals (SDGs) aim to address these challenges by promoting sustainable practices to reduce food loss and waste. Food waste, rich in proteins, carbohydrates, and lipids, is highly biodegradable but often improperly disposed of, leading to environmental pollution through incineration and landfilling. Pulse waste, generated from crops like lentils, chickpeas, and beans, presents a valuable opportunity for valorization. Rich in lignocellulosic materials, proteins, and starch, pulse waste can be converted into biofuels (e.g., bioethanol, biogas, biodiesel), biochemicals, and bioplastics. Anaerobic digestion (AD) is a promising technology for managing food waste, producing biofuels like biomethane and biohydrogen, while also generating value-added products such as enzymes, bioplastics, and biochar. This review explores the composition of pulse waste, current disposal practices, and advanced conversion technologies, including biochemical and thermochemical processes. It highlights the potential of pulse waste as a sustainable feedstock for renewable energy and chemical production, aligning with circular economy principles. Future prospects for pulse waste valorization are promising, driven by technological advancements, sustainability goals, and the need to address global food waste challenges. By transforming waste into valuable resources, pulse waste valorization offers a pathway to enhance food security, reduce environmental impact, and promote economic growth.