Background: Increasing population and industrialization are continuously oppressing the existing energy resources and depleting the global fuel reservoirs. The elevated pollutions from the continuous consumption of non-renewable fossil fuels also seriously contaminating the surrounding environment. The use of alternate energy sources can be an environment-friendly solution to cope these challenges. Among the renewable energy sources biofuels (biomass-derived fuels) can serve as a better alternative to reduce the reliance on non-renewable fossil fuels. Bioethanol is one of the most widely consumed biofuels of today's world. Objective: The main objective of this review is to highlight the significance of lignocellulosic biomass as a potential source for the production of biofuels like bioethanol, biodiesel or biogas. Methods: We discuss the application of various methods for the bioconversion of lignocellulosic biomass to end products i.e. biofuels. The lignocellulosic biomass must be pretreated to disintegrate lignocellulosic complexes and to expose its chemical components for downstream processes. After pretreatment, the lignocellulosic biomass is then subjected to saccharification either via acidic or enzymatic hydrolysis. Thereafter, the monomeric sugars resulted from hydrolysis step are further processed into biofuel i.e. bioethanol, biodiesel or butanol etc. through the fermentation process. The fermented impure product is then purified through the distillation process to obtain pure biofuel. Conclusion: Renewable energy sources represent the potential fuel alternatives to overcome the global energy crises in a sustainable and eco-friendly manner. In future, biofuels may replenish the conventional non-renewable energy resources due to their renewability and several other advantages. Lignocellulosic biomass offers the most economical biomass to generate biofuels. However, extensive research is required for the commercial production of an efficient integrated biotransformation process for the production of lignocellulose mediated biofuels.