Biocomposites have a high potential to be ecofriendly and sometimes technically competitive with conventional composites and plastics. Nevertheless, studies are inconclusive about the relative economic and environmental performance of these materials. In this study, biocomposite materials made with banana fiber extracted from Colombian region plantation were evaluated by Life Cycle Assessment and Life Cycle Cost methodologies from cradle to manufacturing. Banana fiber-based composites combinations were compared with polyester resin. The results show the biocomposites alternatives perform globally worse than polyester and are highly dependent of the percentage of resin, type of fiber treatment and to the presence kaolinite.