Polylactic acid (PLA) is an aliphatic polyester, which is primarily synthesized from renewable resources through the polycondensation or ring-opening polymerization of lactic acid (LA)/lactide. LA can be conveniently produced via the fermentation of sugars obtained from renewable sources such as corn and sugar cane. Due to its biodegradable and biocompatible nature, PLA exhibits a vast range of applications. Its advantages include nontoxicity, environmental safety, and compatibility with human biological systems. PLA finds significant use in various biomedical applications, including implants, tissue engineering, sutures, and drug delivery systems. Additionally, PLA serves as a renewable and biodegradable polymer of extensive utility in film production, offering an alternative to petrochemical-based polymers. Moreover, the properties of PLA-based films can be tailored by incorporating extracts, polysaccharides, proteins, and nano-particles. This review encompasses LA production, PLA synthesis, and diverse applications of PLA and further explores the potential of PLA in the realm of packaging.