The global production of aquatic organisms has grown steadily in recent decades. This increase in production results in high volumes of by-products and waste, generally considered to be of low commercial value and part of them are consequently discarded in landfills or in the sea, causing serious environmental problems when not used. Currently, a large part of the reused aquaculture waste is destined for the feed industry. This generally undervalued waste presents an important source of bioactive compounds in its composition, such as: amino acids, carotenoids, chitin and its derivatives, fatty acids and minerals. These compounds are capable of offering numerous benefits due to their bioactive properties. However, the applicability of these compounds may be opportune in several other sectors. This review describes studies that seek to obtain and apply bioactive compounds from different sources of aquaculture waste, thus adding commercial value to these underutilized biomasses.