The Musaceae family has significant potential as a source of lignocellulosic fibres and starch from the plant’s bunches and pseudostems. These materials, which have traditionally been considered waste, can be used to produce fully bio-based composites to replace petroleum-derived synthetic plastics in some sectors such as packaging, the automotive industry, and implants. The fibres extracted from Musaceae have mechanical, thermal, and physicochemical properties that allow them to compete with other natural fibres such as sisal, henequen, fique, and jute, among others, which are currently used in the preparation of bio-based composites. Despite the potential use of Musaceae residues, there are currently not many records related to bio-based composites’ developments using starches, flours, and lignocellulosic fibres from banana and plantain pseudostems. In this sense, the present study focusses on the description of the Musaceae components and the review of experimental reports where both lignocellulosic fibre from banana pseudostem and flour and starch are used with different biodegradable and non-biodegradable matrices, specifying the types of surface modification, the processing techniques used, and the applications achieved.