The increasing energy demand and the environmental crisis caused due to the unconventional means to fulfil these demands have urged the human race to develop certain technologies based on the utilisation of renewable and sustainable energy sources. The cleanest source of renewable energy is solar energy; this suggests that the photovoltaic application is one of the most promising and dependable way to overcome the energy needs of our planet Earth. However, the solar cells generated on the principle of light to electricity conversion is still lacking an efficient, stable and low-cost materials system for this application. The PSCs formed using perovskite materials, having high absorption coefficient, low binding energy, tunable band gap and exceptionable structural and optical properties, have obtained an efficiency from 3.8 to 25% in a very short span of time, but still there are certain factors which are detrimental in its commercialisation, i.e. stability and toxicity due to lead. Many researchers are focussing on fabricating lead-free stable perovskite solar cells. There has been a number of research work in the last decade incorporating multiferroics as a light absorber in perovskite solar cells. This chapter showcases the properties of perovskite multiferroics, advancement in the field of multiferroics based lead free perovskite solar cells, their challenges and future insights.