He spoke out while leading a service in St Peter's Basilica in the Vatican for the traditional Christmas Eve Mass.
It is the 82-year-old's sixth Christmas as head of the Roman Catholic Church.
In his homily, Pope Francis said the birth of Christ pointed to a new way to live "not by devouring and hoarding, but by sharing and giving".
According to the BBC, Pope Francis continued: "Let us ask ourselves: Do I really need all these material objects and complicated recipes for living? Can I manage without all these unnecessary extras and live a life of greater simplicity?
"For many people, life's meaning is found in possessing, in having an excess of material objects. An insatiable greed marks all human history, even today, when, paradoxically, a few dine luxuriantly while all too many go without the daily bread needed to survive."To read more CLICK HERE