From harvesting to consumption of the faba bean (Vicia faba), different plant residues such as stems, leaves, pods, and seed husks remain as by-products. The harvest residues constitute about 50% (w/w) of the whole aboveground biomass, while the empty pods and the seed husks account for 11% and 6% (w/w) on average, respectively. Due to the environmental and dietary benefits, the global production of faba beans is most likely to increase in the future. Concomitantly, the amounts of by-products will rise as well. So far, mainly the harvest residues have been widely studied, whereas the pods and husks have received less consideration. Therefore, the aim of this review was to provide an overview of the composition of the faba bean plant residues and to illustrate their potential of being used as feedstock in food, feed, or even non-food applications. This literature survey clearly reveals that all the residual materials of faba beans contain valuable compounds and might be suitable for a multitude of different applications. The residual material should thus not be disposed of but further valorized in order to exploit the full potential of the biomass.