Aerogels with extraordinary properties have attracted much attention due to their suitability for different technologies. However, the drawbacks of aerogels, such as expensive raw materials and costly preparation methods, have motivated researchers to seek alternative materials. Meanwhile, rapid economic development has driven the generation of massive agricultural, biomass, and industrial wastes. Despite the huge potential of recycling wastes for preparation of various aerogels, related investigations are limited. This study reviews the variety of waste biomasses used for preparation of different types of aerogels and their applications, as well as the technologies used in their preparation. This study will draw the attention of researchers due to the potential of biomass as a sustainable resource for the production of aerogels. Future research challenges and directions for the commercial application of aerogels are presented.