We report unipolar resistive switching suitable for nonvolatile memory applications in polycrystalline BiFeO3 thin films in planar electrode configuration with non-overlapping Set and Reset voltages, On/Off resistance ratio of ∼104 and good data retention (verified for up to 3,000 s). We have also observed photovoltaic response in both high and low resistance states, where the photocurrent density was about three orders of magnitude higher in the low resistance state as compared to the high resistance state at an illumination power density of ∼100 mW/cm2. Resistive switching mechanisms in both resistance states of the planar device can be explained by using the conduction filament (thermo-chemical) model.