BaHfS3 and BaZrS3, two chalcogenide perovskites, show significant promise for next-generation optoelectronic devices due to their adjustable bandgaps, excellent carrier mobilities, and versatile properties. Using density functional theory (DFT) via the WIEN2k package, this study reveals their bandgap energies of 2.05eV and 1.63eV, respectively, situating them in the visible range and making them suitable for photovoltaic (PV) applications. Additionally, both materials satisfy thermodynamic criteria for hydrogen production through water splitting, confirming their photocatalytic potential. Their thermoelectric performance, measured by the figure of merit (ZT) also indicates moderate potential at elevated temperatures. Strain engineering further enhances the PV performance, where a biaxial compressive strain of −6% boosts power conversion efficiencies (PCEs) by 8.34% for BaHfS3 and 3.30% for BaZrS3. For photocatalysis, uniaxial and biaxial strains optimize optical absorption and water-splitting kinetics. Furthermore, the thermoelectric properties slightly improve under strain effect. These findings highlight the multifunctional potential of BaHfS3 and BaZrS3 for PV, photocatalytic, and thermoelectric applications, with strain engineering providing a robust strategy for performance optimization.