As more people look for sustainable sources of energy, there is now greater demand for developing renewable biofuels. Rice straw, which occurs in large amounts on farms, could be an excellent biofuel source by undergoing thermochemical processes like pyrolysis. This chapter looks into the use of rice straw as a source of biofuel, with a focus on the pyrolysis method that uses heat without oxygen. It looks at three important cases that study the use of pyrolysis processes to produce more biofuels. This process covers ethanol-based liquefaction, catalytic pyrolysis using metal salts and zeolites, as well as combining pyrolysis with low-temperature liquefaction. Study outcomes from these case studies demonstrate that the results and quality of bio-oil depend on things like temperature, the kind of catalyst, and the amount of time the material is processed. The results of this chapter have shown that catalytic pyrolysis using Y-zeolite leads to the highest production of bio-oil (55.2 wt%), and that the highest energy efficiency comes from the combined pyrolysis-liquefaction process (67.41% yield and a high heating value of 42.16 MJ/kg). Statistical modeling, such as response surface methodology, is often used to help improve how efficiently the process works. It is evident from the results that rice straw can be used for creating biofuels and has valuable uses in electing renewable energy and energy generated from waste. At the end of the research, I put forward suggestions for more research and ways to improve the process’s scalability, feasibility in terms of costs, and sustainability.