The fluorescent carbon dot is a novel type of carbon nanomaterial. In comparison with semiconductor quantum dots and fluorescence organic agents, it possesses significant advantages such as excellent photostability and biocompatibility, low cytotoxicity and easy surface functionalization, which endow it a wide application prospect in fields of bioimaging, chemical sensing, environmental monitoring, disease diagnosis and photocatalysis as well. Biomass waste is a good choice for the production of carbon dots owing to its abundance, wide availability, eco-friendly nature and a source of low cost renewable raw materials such as cellulose, hemicellulose, lignin, carbohydrates and proteins, etc. This paper reviews the main sources of biomass waste, the feasibility and superiority of adopting biomass waste as a carbon source for the synthesis of carbon dots, the synthetic approaches of carbon dots from biomass waste and their applications. The advantages and deficiencies of carbon dots from biomass waste and the major influencing factors on their photoluminescence characteristics are summarized and discussed. The challenges and perspectives in the synthesis of carbon dots from biomass wastes are also briefly outlined.