Current demand for bio-based nanoparticles as a substitute for synthetic nanoparticles has increased due to their physicochemical properties, biodegradability and biocompatibility, and lignocellulosic wastes can be exploited for the production of cellulose and lignin derived nanoparticles. Nanocellulose (NC) and nanolignin (NL) have applications in many different areas, ranging from automotive manufacturing, agricultural, medicine, food industry, biotech industry and extending to the energetic field. Yet, the recalcitrance of the lignocellulosic material to deconstruction, requires pre-treatments as an earlier and necessary step in the process to get NC and/or NL. Therefore, the aim of the work focuses on the recent developments about the valorization of those lignocellulosic wastes as a source of NC and NL, by discussing (i) how the characteristics of different biomasses and residues influence the NC and NL properties, (ii) treatments and extraction procedures, and (iii) its categorization in terms of eco-friendly and green principles. Results show that progress has been made in greener pretreatment methods for lignocellulosic biomass, but challenges remain. The sustainability and efficiency of these methods vary by biomass type, making a universal solution impractical. While more sustainable techniques are emerging, their industrial use is limited by high costs and technical complexities, requiring specialized equipment. Overall, scaling up these developed greener methods (e.g. Deep Eutectic Solvents, steam explosion, biological/ enzymatic methods) to an industrial level requires better energy management, cost reductions, and continued innovation.