Antimicrobial resistance (AMR) has become a menace for humanity. Several antibiotics have become ineffective, and there is a need for a novel route or approach to find solutions. Antimicrobial peptides (AMPs) have already generated a lot of noise for over four decades. However, insect-based AMPs offer not only novel sources but also provide effective measures, as the insects are known to be exposed to extreme environments. Plenty of insect-based AMPs have been identified from different orders of insect taxonomy. This review concentrates on the world of insect-based AMPs, their known targets and their applications in agriculture and medical fields. Transgenic induction of AMPs in different hosts has been successfully studied in plant systems. By identifying new AMPs, it will also help in the field of agriculture to increase the production rate of the crops by eliminating the disease-causing pathogens, microbes, and pests. In the present review, we have discussed recent knowledge, and several essential medical and agricultural importance of AMPs identified from insects.