Polysaccharides have emerged as a promising material for hydrogel preparation due to their biocompatibility, biodegradability, and low cost. This review focuses on polysaccharide-based hydrogels’ synthesis, characterization, and applications. The various synthetic methods used to prepare polysaccharide-based hydrogels are discussed. The characterization techniques are also highlighted to evaluate the physical and chemical properties of polysaccharide-based hydrogels. Finally, the applications of SAPs in various fields are discussed, along with their potential benefits and limitations. Due to environmental concerns, this review shows a growing interest in developing bio-sourced hydrogels made from natural materials such as polysaccharides. SAPs have many beneficial properties, including good mechanical and morphological properties, thermal stability, biocompatibility, biodegradability, non-toxicity, abundance, economic viability, and good swelling ability. However, some challenges remain to be overcome, such as limiting the formulation complexity of some SAPs and establishing a general protocol for calculating their water absorption and retention capacity. Furthermore, the development of SAPs requires a multidisciplinary approach and research should focus on improving their synthesis, modification, and characterization as well as exploring their potential applications. Biocompatibility, biodegradation, and the regulatory approval pathway of SAPs should be carefully evaluated to ensure their safety and efficacy.