Formal:
* Faire mes devoirs: This is the most common and literal translation.
* Travailler sur mes devoirs: This emphasizes the effort and work involved.
Informal:
* Faire mes leçons: This is more common for younger students.
* Faire mes exercices: This refers specifically to completing exercises.
* Bosser mes devoirs: This is a more slangy way to say "doing my homework."
Examples:
* Je fais mes devoirs en ce moment. (I'm doing my homework right now.)
* J'ai beaucoup de devoirs à faire. (I have a lot of homework to do.)
* J'aime pas faire mes devoirs. (I don't like doing my homework.)
* Tu as fini tes devoirs? (Have you finished your homework?)
The best way to say it depends on the situation and your level of formality.