The continuos delivery of E-waste from petroleum-based products creates ecological and enviromental problems due to non-biodegradable polymers which release harmful chemicals and toxic gases. This results in biodegradable polymers/fibers appearance which are biocompatible and degrade in the surounding enviroments without causing any environmental pollution. However, the bio-based materials are unable to meet certain properties in the way of flexibility, dielectric properties, electrical properties, water and gas vapor barrier properties. The current day's research focus is towards the implementation of biodegradable composites properties by introducting different nanostructures. The biopolymers/biofibers are used as raw material in concern with environmetnal aspects. Nowdays researchers are supplementing a new form of materials known as nanofillers in various biopolymer-based composites in a small amount. This nanofillers will act as additives and helps in enhancing the different properties such as mechanical, thermal, flame retardancy and water absorption behaviour of the nano composite materials as well as maintaining the optimum density of them. The nanocomposites applications are extended in various sectors for the reason of higher surface area, aspect ratio and superior properties. This review outlines the types of biofibers/biopolymers and their characterization, types of nanofillers and their characterization and summarizes the various functional properties of nanocomposites with their applications.