Large-scale biofuel production plants require an efficient gasification process that generates syngas of high quality (with minimal gas contaminants and inert gases) to minimize the extent of the syngas cleaning processes required for liquid biofuel production. This work presents process modeling of the chemical looping gasification (CLG) process for syngas production. The CLG process is integrated with a Fischer–Tropsch synthesis (FTS) process to produce Fischer–Tropsch (FT) crude with net-negative CO2 emissions, enabling process and system-level analyses of this novel biomass-to-liquid process. CLG resembles indirect gasification in an interconnected circulating fluidized bed reactor, where instead of inert bed material, a solid-oxygen carrier, such as mineral ores rich in iron or manganese oxides, is used. The oxygen carrier particles undergo oxidation and reduction in the air reactor and fuel reactor, respectively, thereby providing heat and oxygen for gasification. This work uses data from CLG experiments performed with steel converter slag as the oxygen carrier and investigates its potential when integrated with different downstream gas cleaning trains and the subsequent fuel synthesis process with the primary objective of quantifying and evaluating the performance of the integrated CLG–FT process plant. Syngas with a high energy content of 12 MJ/Nm3 (lower heating value basis) is predicted with a cold gas efficiency of 73%. CO2/CO ratios, higher than indirect biomass gasification, are also predicted in the raw syngas produced; thus, there exists an opportunity to capture biogenic CO2 with a relatively lower energy penalty in the subsequent gas cleaning stages. This work quantifies other key performance indicators, such as heat recovery potential, negative CO2 emission capacity, and FT crude production efficiency of the CLG–FT plant. A 100 MWth CLG plant produces roughly 677–696 barrels per day of FT crude, with net-negative emissions of roughly 180 kilotonnes of CO2 annually.