The technoeconomic assessment of the biomass-to-liquid process via Fischer–Tropsch synthesis (BTL-FT) has shown that large-scale BTL-FT production is not currently feasible because the estimated production costs of BTL-FT processes cannot yet compete with conventional fossil fuels. However, large-scale BTL-FT production may be feasible in the future with the introduction of subsidies, lower biomass prices, growth of biomass commodity markets, higher petroleum prices, and favorable, stricter climate legislation on transportation fuels. In addition, there is a need to develop more economical gasification technologies for the gasification of biomass into synthesis gas using product compositions that will meet Fischer–Tropsch (FT) synthesis requirements. Furthermore, a conscious effort has to be made to develop catalysts for FT synthesis with better activity and selectivity toward desired products and a low deactivation rate.