Microwave-aided pyrolysis (MWAP) stands as a promising and environmentally conscious approach for converting residual biomass into valuable products. The unique attributes of cashew nut shells (CNSs), often overlooked in the processing industry, have been unveiled as an attractive feedstock for MWAP, showcasing its adeptness in generating high-quality biochar, bio-oil, and syngas. This review article explores the details of MWAP of CNS, highlighting the latest scientific advancements and empirical insights into the process, products, and applications, ranging from soil amendment to bioenergy sources and liquid fuels. The study highlights CNS's potential in producing value-added materials and extends the discourse to the synthesis of activated carbon, exemplifying its versatility and practical applicability. The review concludes by urging investigations into the untapped potential of CNS products, encouraging research into their adsorption and catalytic properties, and envisioning novel applications that resonate with sustainability and environmental care principles.