Growing focus on economical substrate utilization in bioprocess industries has resulted in the utilization of organic residue from several industrial sectors. This review delves into the transformative potential of oilcake biomass waste for biofuel production, highlighting its significance in the Waste to Energy (WtE) paradigm. The current state of biodiesel manufacturing is analyzed in detail, with a focus on the vital role of oilcakes as a renewable feedstock. A scientometric study is used to map the research landscape, finding major trends, significant studies, and knowledge gaps in the field. The chemical composition of several oilcakes is studied, demonstrating their feasibility for biofuel conversion due to their high quantity of lipids, proteins, and carbohydrates. Pretreatment methods including physical, chemical, and biological techniques are explored for enhancing the efficiency of subsequent biofuel production processes. The article further explores the diverse spectrum of biofuels derivable from oilcake, including biobutanol, bioethanol, biogas, and biohydrogen, etc., detailing the conversion technologies and processes involved. Sustainable applications and the inherent challenges in the large-scale implementation of oilcake-based biofuels are discussed, offering insights into future research directions and potential solutions to overcome existing barriers. This comprehensive review underscores the promise of oilcake biomass in contributing to sustainable energy solutions, aligning with global efforts to reduce waste and mitigate climate change.