The hydrodeoxygenation of triglycerides and fatty acids (HEFA) represents a well-established technological pathway for producing renewable drop-in fuels, such as renewable diesel, aviation fuel, or renewable light ends, like naphtha and LPG. A hydrogen supply is required, and the conventional method involves steam methane reforming (SMR) from natural gas. Both HEFA and SMR processes have been investigated in the literature separately. In this context, the goal of this work is to assess the hydrodeoxygenation process (HDO) of triglycerides/fatty acids integrated with hydrogen production. Two scenarios are compared by process simulation, equipment sizing, and economic analysis: one with traditional SMR (SC-A) and another with electrified SMR (SC–B), which is a recent alternative for hydrogen production with no natural gas. The HDO capacity was 6220 BPSD (38000 kg/h) of soybean oil, and the average yields for renewable diesel, naphtha, and LPG were 71.23 %-wt, 1.80 %-wt, and 5.87 %-wt, accordingly. Both scenarios were technical feasible and may be economically attractive. However, the grey hydrogen source was more profitable per its plant simplicity — although the CO2 taxation may impact its profitability.