Raw materials from renewable natural resources for industrial applications are in high concern in recent industrial research. Researchers invest their time in the management of waste as well as the conversion of waste to wealth. In that line, the production of biofuels including biodiesel, and value-added products from non-edible oil sources as well as from the generated waste biomasses, are in the tilt of research in recent times. Preparation of different oleochemicals such as grease, resins, soap, lubricants, etc. from vegetable oils, and utilization of seed cake as fertilizer, animal feed, medicine, etc. are encouraged as a part of the generation of waste to wealth as per today’s environment is concerned. In recent days, various reports on the production of biodiesel and other oleochemicals from non-edible oil sources are published in various scientific journals. Yellow oleander (Thevetia peruviana) is a tropical shrub which produces a toxic non-edible fruit containing a high percentage of seed oil (up to 67%), protein (30-37%) as well as other medicinally important phytochemicals. It is attracting the researchers worldwide for the production of biodiesel, various oleochemicals, medicine, animal feed, etc. In this study, biodiesel and various value-added products synthesized from Thevetia peruviana oil and cake are reviewed to generate and popularize the potential use of yellow oleander seed for various industrial applications and accordingly, for substantial growth in cultivation for commercial-scale requirements.