The overexploitation of fossil fuels and their negative environmental impact has attracted the attention of researchers worldwide to propose alternatives to produce bioenergy. Microbial fuel cells (MFCs) systems are sustainable biotechnologies that use bacterial activity to break down organic matter while generating bioelectricity. MFCs have bioelectricity from domestic wastewater (DWW), municipal wastewater (MWW), and potato and fruit waste, reducing environmental contamination and decreasing energy consumption and treatment cost. This review focuses on the recent advancements regarding the designs and configurations, the operation mode of MFCs, and their capacity to produce bioelectricity (e.g., 2203 mW/m2) and fuels (i.e., H2: 438.7 mL/g and CH4: 358.7 mL/g, respectively). Besides, this review highlights practical applications, challenges, techno-economic, and life cycle assessments (LCA) of MFCs. Despite MFC's promising biotechnology, great efforts should be made to implement it in real-time and commercialization.