The renewable biorefinery concept involves transforming a pulp mill into a multipurpose biofuels, biomaterials, and biopower production facility in which these products are produced in an ecofriendly and sustainable manner. A key challenge in this process is the recovery of lignin from process streams such that it can be utilized in a variety of innovative green chemistry processes. This chapter focuses on the various methods used for the recovery of lignin and application of lignin. The study also discusses about the production of biofuel, specifically bio-diesel via Lignoboost lignin pyrolysis as biofuel, steam gasification/pyrolysis of kraft lignin for biofuel, lignin hydrocracking for biofuel and hydrogenation of black liquor. Besides this, the study also throws some light on the availability of biomass, its sources, and global production of biodiesel.