With the speedy advancement of wireless communications, electromagnetic wave (EMW) pollution and electromagnetic interference (EMI) are gradually austere, which makes it an urgent need to develop high-performance EMW absorbers and shields. Carbon-based materials are important members of the family of EMW absorbing and shielding materials, due to their satisfactory electrical conductivity, low density, and good corrosion resistance. Especially, wood biomass-derived carbon materials, including carbonized cellulose, lignin and wood monolith, are acclaimed for their rich conductive network, unique porous structure, and effective loading of functional fillers, which promotes high-efficiency EMW absorption and shielding, and provides a new idea for using wood biomass resources in a high-value way. Additionally, due to the high yield of wood biomass, the mass production of carbonized wood biomass-derived EMW absorbers and EMI shields becomes more promising compared with other carbon materials. Hence, relevant studies should be summarized. Meanwhile, the functions of carbon materials need to be clarified and the importance of carbon materials needs to be highlighted. In this review, the roles of wood biomass-derived carbon in various EMW absorbing and shielding materials were emphasized, along with an analysis of related studies. Meanwhile, the main obstacles and the prospects of wood biomass-derived carbon were proposed.