Acerola (Malpighia spp.) is a tropical plant genus of shrubs and trees whose fruit is rich in nutrients and bioactive compounds. However, its production generates significant waste that could pose an environmental issue. This review aims to summarize recent research on the potential uses of acerola wastes, including the extraction of bioactive compounds such as polyphenols, carotenoids, and pectins, as well as the development of materials such as nanomaterials, chitosan, and biofuels. Additionally, the paper discusses the potential medical applications of acerola wastes, such as wound healing, antioxidant, and anticancer effects. Finally, the paper explores the challenges and opportunities of using acerola waste as a sustainable source of raw materials and energy. The findings suggest that acerola waste could be a valuable resource for developing high-value products and promoting sustainable production practices in the fruit industry.