Biobased liquid fuels are becoming an attractive alternative to replace, totally or partially, fossil ones in the medium term, mainly in aviation and long-distance transportation. In this regard, coprocessing biomass-derived feedstocks in conventional oil refineries might facilitate the transition from the current fossil-based transport to a biobased one. This article addresses the economic and environmental feasibility of such a coprocessing strategy. The biomass-based feedstocks considered include bio-oil and char from the fast pyrolysis of lignocellulosic biomass, which are coprocessed in fluid catalytic cracking (FCC), hydrocracking, and/or cogasification units. The assessment was based on the standardized concept of eco-efficiency, which relates the environmental and economic performances of a system following a life-cycle approach. Data from a complete simulation of the refinery process, from raw materials to products, were used to perform a life cycle costing and eco-efficiency assessment of alternative configurations of the coprocessing strategy, which were benchmarked against the conventional fossil refinery system. Among other relevant results, the eco-efficiency related to the system's carbon footprint was found to improve when considering coprocessing in the hydrocracking unit, while coprocessing in FCC generally worsens the eco-efficiency score. Overall, it is concluded that coprocessing biomass-based feedstock in conventional crude oil refineries could be an eco-efficient energy solution, which requires a careful choice of the units where biofeedstock is fed.