Abstract As a sustainable substitute for traditional plastics made from petroleum, thermoplastic starch (TPS), a biodegradable and renewable polymer made from natural starch sources, has attracted a lot of interest. A detailed review of current developments in TPS research is provided in this paper, with an emphasis on material development, techniques for processing, property improvement, and applications. Technological advancements in plasticization techniques, such as the application of new plasticisers and blending agents, have enhanced the mechanical strength, water resistance, and thermal stability of TPS. TPS's potential has been further enhanced by nanocomposites and hybrid materials, which allow for customised qualities for particular industrial uses like packaging, agricultural, and biomedical devices. Furthermore, long-standing issues with TPS's moisture sensitivity and retro-gradation have been resolved by current efforts in interaction and chemical modification. This study focuses on the biodegradability and environmental effects of TPS-based materials, emphasising their function in circular economy initiatives. In order to inform the creation of next-generation biodegradable materials, this study summarises the most recent research on TPS and describes current trends and future directions in the field.