Abstract Fish solid wastes include different by‐products such as bones, scales and hides that are high in collagen content and account for up to 75% of the total body weight. These wastes can be utilised for the extraction of different products such as gelatin that can be used in different food and pharmaceutical industries. Fish gelatin can be used as a replacement for mammalian gelatin due to its nutritional profile as it contains all the amino acids: essential and non‐essential. Fish gelatin cannot only be used as a replacement for bovine and porcine gelatin but it also increases the utilisation of fish waste and reduces pollution. This review summarises the potential utilisation of different fish waste byproducts, extraction techniques and its application in different food products as an alternative to commercially available porcine and bovine gelatin.