Nanotechnology has important roles in almost every sector, as well as food packaging, in order to succeed in sustainable and cost-effective food protection. Nowadays, biodegradable polymer-based nanocomposites for sustainable food packaging applications have gained significant attention in both the scientific and industrial fields due to environmental concerns. There is a growing demand to develop new bionanocomposite packaging systems for food preservation to maintain high-quality, healthy foods with an extended shelf life. The incorporation of metal and metal oxide nanoscale fillers into the biodegradable polymer matrix is one of the promising alternatives that should enhance the various functional properties (barrier, bioactivity, mechanical, etc.) of the final food packaging. This chapter will give a comprehensive update on the recent advancements of mostly used metal (Ag, Au, and Cu) and metal oxide (CuO, Cu2O, Fe3O4, Fe2O3, MgO, ZnO, and TiO2) nanomaterials incorporated biodegradable food packaging systems. The role of nanoparticles on the properties and biodegradability of developed bionanocomposites and the migration of nanoparticles from polymer matrix are also summarized.