The heavy reliance on fossil fuels, especially oil and gas has triggered the global energy crisis. Continued use of petroleum fuels is now widely recognized as unsustainable because of their depleting supplies and degradation to the environment. To become less dependent on fossil fuels, current world is shifting paradigm in energy by developing alternative energy sources mainly through the utilization of renewable energy sources. In particular, bioenergy recovery from wastes with the help of microorganism is viewed as one of the promising ways to mitigate the current global warming crisis as well as to supply global energy. It has been proved that microorganism can generate power by converting organic matter into electricity using microbial fuel cells (MFCs). MFC is a bioelectrochemical device that employs microbes to generate electricity from bio-convertible substrate such as wastewaters including municipal solid waste, industrial, agriculture wastes, and sewage. Sustainability, carbon neutral and generation of renewable energy are some of the major features of MFCs. However, the MFC technology is confronted with a number of issues and challenges such as low power production, high electrode material cost and so on. This paper reviews the recent developments in MFC technology with due consideration of electrode materials used in MFCs. In addition, application of biocathodes in MFCs has been discussed.