Fruit waste contains several bioactive components such as polyphenols, polysaccharides, and numerous other phytochemicals, including pigments. Furthermore, new financial opportunities are created by using fruit ‘leftovers’ as a basis for bioactivities that may serve as new foods or food ingredients, strengthening the circular economy’s properties. From a technical standpoint, organic phenolic substances have become more appealing to industry, in addition to their application as nutritional supplements or functional meals. Several extraction methods for recovering phenolic compounds from fruit waste have already been published, most of which involve using different organic solvents. However, there is a growing demand for eco-friendly and sustainable techniques that result in phenolic-rich extracts with little ecological impact. Utilizing these new and advanced green extraction techniques will reduce the global crisis caused by fruit waste management. Using modern techniques, fruit residue is degraded to sub-zero scales, yielding bio-based commodities such as bioactive elements. This review highlights the most favorable and creative methods of separating bioactive materials from fruit residue. Extraction techniques based on environmentally friendly technologies such as bioreactors, enzyme-assisted extraction, ultrasound-assisted extraction, and their combination are specifically covered.