Recent studies have shown that pomegranate peels (PP) is a valuable source of valuable bioactive compounds, most of which can be converted into value-added products. We herein review this conversion process and provide an outline on the chemical composition of PP and the possible value-added products that can be produced from this commonly discarded agro-waste. We have also discussed its use as a substrate to produce medicinal compounds and bioactive phenolic compounds (e.g., phenolic acids, flavonoids, vitamin C, fertilizers, dietary fibers, and tannins) as well as its use in nanomaterial synthesis. Based on available evidence, it is obvious that PP has a wide variety of applications, and thus, developing an efficient system to utilize PP adequately will help to completely utilize its potential benefits. The biorefinery approach shows promising potential for efficient utilization of PP; however, additional studies should be conducted in this area. © 2016, Springer Science+Business Media Dordrecht.