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The hard-shelled seed industry plays an important role in the global agricultural economy. In fact, only considering hazelnut and walnut, the global nut supply is over 5.6 tons. As a result considerable amounts are produced year by year, burnt or discarded as waste, bypassing a potential source of valuable compounds or features. This review deals with the recent scientific literature on their chemical composition as well as functional applications as an approach to sustain the utilization of the main byproduct derived from industry. Indeed, nutshells have received great interest due to their lignin, antioxidant, physical and mechanical features. It was found that these properties vary among cultivars and localities of plantation, influencing physical and structural features. The inconsistencies regarding the above-mentioned properties of nutshells lead to exploring the status of hazelnut and walnut shell applications in sustainable bio-economy chains. In fact, in terms of potential applications, the state of the art links their use to the construction industry and the manufacture of materials, such as resin or plastic composites, particleboards or construction panels, or vital infrastructure and as a filler in cement pavements. However, their current use continues bypassing their great antioxidant potential and their interesting chemical and mechanical features.