<p>Industrial hemp (<i>Cannabis sativa</i> L.) is gaining recognition for its versatility, particularly as a source of fiber, seeds, and bioenergy. While the stems are predominantly utilized for fiber production, the residual biomass from processing (e.g., leaves, hurds, and other by-products) can be converted into solid biofuels or further valorized through bioethanol and biogas production. At the same time, industrial hemp oil (IHO) can be converted into biodiesel via transesterification. This review examines seed pretreatment, oil extraction, biodiesel production, and the physicochemical properties of the resulting fuels. Although interest in IHO has increased in recent years, relatively few studies compare advanced extraction approaches with traditional ones in terms of yield or oil quality. Most work on IHO transesterification still relies on base catalysts, whether homogeneous or heterogeneous, whereas newer catalytic strategies remain less explored. Available findings are compared here to highlight variations in oil yield, reaction conditions, and fuel properties among different cultivars. These characteristics depend not only on processing methods but also on cultivar choice, growing conditions, and agricultural practices. Looking ahead, a more integrated use of industrial hemp biomass in biorefinery concepts could help maximize value from oil, seed cake, and other residues. Such approaches align with the Sustainable Development Goals by encouraging resource efficiency and environmental stewardship. Even so, challenges remain, particularly scaling up production, refining processes, and ensuring social responsibility throughout the value chain.</p>