Advanced food packaging technology ensures food safety from pollutants and microbial pathogens, extending the shelf-life period of the preserved foods. However, conventional fossil-based polymer food packaging film is currently challenged with several inherent and extraneous plights with a growing demand for its replacement. Biodegradable polymers are derived from various natural biomass sources, beneficial for developing edible active packaging films, clinching the safety and sustainability of food shelf-life. Numerous natural antioxidants, nanofillers, and antimicrobial agents have been used to incorporate these biopolymer matrices to augment the characteristics properties (oxidation resistance, antimicrobial activity, mechanical and barrier properties) of the resulting hybrid active food packaging films. This review summarizes the recent advances in the application and developments of natural antioxidant-based edible food packaging films. The effect of natural antioxidants and nanofillers on the performance of composite films is also discussed critically. The controlled release and migration characteristics of the active components from the active film to food are also emphasized. The review also points out the current challenges concerning these active packaging film's safety, economic, and environmental aspects. Ultimately, the potential scope for edible active films in the food packaging industry is addressed.