Uprising energy crisis is predicted to be critically challenging in the foreseeable future where existing fossil fuel reservoirs are fast depleting and their extensive usage is posing serious health-related concerns to biological life on earth. To cover up these exhaustible energy resources, extensive efforts are going on to discover new frontiers in generating alternative energy sources on sustainable, renewable, and most importantly environment-friendly basis. In this context, biofuels (biomasses derived fuels) are seemed to be a promising solution considering the economical and applicable aspects. The generation of biofuels in another challenging task where the selection of raw materials for biofuel synthesis is of prime importance. Lignocellulosic biomass (residual plant-derived wastes) represent the largest resource substrate available on earth and could be used as a feedstock to generate biofuels such as bioethanol, biodiesel, biogas etc. in an eco-efficient, low cost, easily manageable and significantly in an ecosphere protected way. The current review summarizes the cutting-edge research on lignocellulosic biomass conversion to the renewable biofuel end products with concisely describing the lignocellulosic structural dimensions, sources, pretreatments, processing methodologies and ultimate challenges at the lower end.