The increasing prominence of clean and sustainable energy sources drives the search for technologies and fuels that meet environmental demands and promote sustainable development. Renewable raw materials, such as biofuels, emerge as viable alternatives to reduce dependence on fossil fuels and mitigate greenhouse gas emissions. Among the most used biofuels, hydrotreated vegetable oil (HVO), also known as green diesel, stands out, with significant projections for increased production by 2030. The replacement of oil by renewable sources, encouraged by various nations, seeks to minimize environmental impacts compared to conventional fuels. In this context, HVO emerges as a promising option, offering environmental advantages and being produced from vegetable oils. This review highlights the importance of HVO in biofuel production, addressing its production, properties, and environmental impact, as well as its future prospects. Despite the advantages, challenges in the use of this energy are identified. Continuous investments in research, development, and infrastructure are crucial to maximize the potential of sustainable energy solutions. For this purpose, consultations were carried out on articles available in databases. This search was conducted using descriptive terms in both Portuguese and English, such as: “HVO”, “green diesel”, “hydrotreated vegetable oil”, “biofuels”, “alternative fuel” and “future prospects of biofuels”, selected from the vocabulary found in the articles.