Agricultural waste of banana plant cultivated for only fruit production generally increases in each year due to the increment of banana cultivation to fulfill the need of increased world population. Evaluation of agricultural waste of banana plant as fiber increases the area of use of banana fiber. Because of its easy accessibility, renewability, biodegradability, and sustainability, the areas of use of banana fibers, which are especially preferred in composite materials, are increasing day by day. Banana fiber, ligno-cellulosic fiber, which has superior physical and mechanical properties, are now regarded as an important textile material. Banana fibers play a role in several different applications in many different fields such as textile, composite, paper, construction, thermal insulation, automotive and transportation, etc. Moreover, banana fibers can also be used in the production of clothing such as t-shirts, shirts, kaftans, kimonos, etc., and carpets, bags, handbags, wallets, purses, belts, shoes, ornaments, souvenirs, handicraft products, sanitary pads, etc. Banana fiber, whose popularity has increased recently, also appears in different textile products such as dresses, sarees, and trousers in textile fashion. In this chapter, the cultivation of the banana plant and the extraction methods of the banana fibers, the physical–chemical structure and characteristics of the banana fibers, and their usage areas were examined in detail.