This manuscript details the preparation and characterization of a renewable biocomposite material intended as a soil conditioner based on low-molecular-weight poly(lactic acid) (PLA) and residual biomass (wheat straw and wood sawdust). The swelling properties and biodegradability of the PLA-lignocellulose composite under environmental conditions were evaluated as indicators of its potential for applications in soil. Its mechanical and structural properties were characterized by differential scanning calorimetry (DSC), thermogravimetric analysis (TGA), Fourier-transform infrared spectroscopy (FTIR), and scanning electron microscopy (SEM). Results showed that the incorporation of lignocellulose waste material into PLA increased the swelling ratio of the biocomposite by up to 300%. The application of the biocomposite of 2 wt% in soil enhanced its capacity for water retention by 10%. In addition, the cross-linked structure of the material proved to be capable of swelling and deswelling repeatedly, indicating its good reusability. Incorporating lignocellulose waste in the PLA enhanced its stability in the soil environment. After 50 days of the experiment, almost 50% of the sample had degraded in the soil.