Limonene is a renewable cyclic monoterpene that is easily obtainable from citrus peel and it is commonly used as a nutraceutical ingredient, antibacterial, biopesticide and green extraction solvent as well as additive in healthcare, fragrance and food and beverage industries for its characteristic lemon-like smell. Indeed, the lack of toxicity makes limonene a promising bio-alternative for the development of a wide range of effective products in modern biorefineries. As a consequence, industrial demand largely exceeds supply by now. Limonene can be also used as starting substrate for the preparation of building block chemicals, including p-cymene that is an important intermediate in several industrial catalytic processes. In this contribution, after reviewing recent advances in the recovery of limonene from citrus peel and residues with particular attention to benign-by-design extractive processes, we focus on the latest results in its dehydrogenation to p-cymene via heterogeneous catalysis. Indeed, the latest reports evidence that the selective production of p-cymene still remains a scientific and technological challenge since, in order to drive the isomerization and dehydrogenation of limonene, an optimal balance between the catalyst nature/content and the reaction conditions is needed.