Biofloc technology (BFT) has emerged as a promising solution to address challenges in the expanding field of aquaculture. This review synthesizes recent literature to provide a comprehensive overview of biofloc development techniques, their applications, and avenues for future improvement. BFT offers significant advantages, including enhanced pond health, improved water quality, and reduced operational costs. By cultivating and managing heterotrophic bacteria within the system, BFT minimizes water exchange and facilitates the formation of bioflocs that serve as nutrient-rich food sources for cultured organisms. This review explores the mechanisms underlying biofloc formation, their impact on water quality management, and their role in promoting the growth and health of aquaculture species. However, the implementation of bioflocs in newly established ponds presents challenges, such as limited control over microbial dynamics and the potential presence of bacterial pathogens, which can result in economic losses and jeopardize animal welfare. This review underscores the importance of ongoing innovation and research to optimize biofloc technologies, addressing issues viz. ammonia accumulation and the search for cost-effective feed alternatives. By examining emerging trends and technological advancements, this review underscores the potential of biofloc development techniques to enhance the sustainability and efficiency of aquaculture practices.