Currently, a wealth of genomic data are now accessible for numerous insect natural enemies, serving as valuable resources that deepen our understanding of the genetic basis of biocontrol traits in these organisms. We summarize the current state of genome sequencing and highlight candidate genes related to biocontrol traits that hold promise for genetic improvement. We also review the recent population genomic studies in biological control and the discovery of potential insecticidal genes in parasitoid wasps. Collectively, current genomic works have shown the powerful ability to identify candidate genes responsible for desirable traits or promising effectors. However, further functional study is necessary to gain a mechanistic understanding of these genes, and future efforts are also needed to develop suitable approaches to translate genomic insights into field applications.