Wheat straw is a standard biomass raw material for extracting high-quality hemicellulose. Hemicellulose has been extensively explored in recent research for the manufacturing of bioethanol and biofuels. This chapter aims to elaborate on recent developments in extraction procedures and their applications in various fields. Different physical and chemical-based extraction procedures, along with their benefits and limitations, are summarized in this chapter. Extraction procedures, including acid and alkali hydrolysis and microorganism pretreatment, have also been reviewed in this chapter. A comprehensive study of various factors, including temperature, pH, and extraction time, that affect the yield of crude hemicellulose is presented here. The applications of hemicellulose, with a special focus on biofuel synthesis, as adsorbents, and in the packaging industry, are discussed in detail. It is expected that this chapter will outline the developmental skills in hemicellulose processing and high-value applications of hemicellulose derived from wheat straw.