An increasing global population, rising energy demands, and the shift toward a circular bioeconomy are driving the need for more resource-efficient waste management. The increase in the world population—now exceeding 8 billion as of 2024—results in an increased need for alternative proteins, both human and feed grade proteins, as well as for biopolymers and bioenergy. As such, agricultural, forest, and marine waste biomass represent a valuable feedstock for production of food and feed ingredients, biopolymers, and bioenergy. However, the lack of integrated and efficient valorization strategies for these diverse biomass sources remains a major challenge. This literature review aims to give a systematic approach on the recent research status of agricultural, forest, and marine waste biomass valorization, focusing on cascade processing (a sequential combination of processes such as pretreatment, extraction, and conversion methods). Potential products will be identified that create the most economic value over multiple lifetimes, to maximize resource efficiency. It highlights the challenges associated with cascade processing of waste biomass and proposes technological synergies for waste biomass valorization. Moreover, this review will provide a comprehensive understanding of the potential of waste biomass valorization in the context of sustainable and circular bioeconomy.