Biodegradable plastics (BDPs) are considered as sustainable alternatives to conventional plastics, of growing application in agriculture. However, there is still concern about environmental safety and potential impacts of BDPs on agroecosystems. In this review, we summarized major BDPs and their application in agriculture, such as mulch film and other agricultural materials. Degradation characteristics of different types of BDPs in agricultural soil were systematically analyzed. The generation of microplastics (MPs) and the release of plastic additives were discussed linkage with their potential environmental impacts. The fate of MPs and other intermediates of BDPs degradation were further analyzed according to available data. Moreover, effects of BDPs and their degradation intermediates on crops, microbiome, and soil fauna were summarized, in order to explore the potential impacts on agroecosystems. These analyses indicate that BDPs have latent adverse effects on agroecosystems, which should not be underestimated. We suggest to pay attention to ecological risks of large-scale use of BDPs in agricultural soil, and propose key challenges and research perspectives in the future.