Tropical fruit wastes (TFW) are considered as the major source of food and nutrition in the topical countries. In the recent years, modernization of agriculture has increased the tropical fruit production. Higher fruit production led to an increasing abundance in the tropical fruit waste. In general, the tropical fruit waste has no economic value and ends up in landfill. But in recent years it was observed that the tropical fruit waste can be valorized to produce value-added products ranging from compost, phytochemicals, and food products to biofuels. The tropical fruit waste has great potential to produce useful products in tropical areas. This review literature is an endeavor to understand the major tropical fruit wastes and their composition. The review presents a detailed investigation on tropical fruit waste composition, its conversion potential, role of microbes in waste valorization, production of commercially valuable products and future perspectives in waste valorization.