The present work summarizes the results of an experimental study focused on producing antioxidant additives for biofuels from argan shell lignin. The generation of this waste has noticeably increased in specific regions of Morocco as a result of the upward trend in the production of argan oil. Lignin extracted from argan shells via a semi-chemical pulping process was depolymerized under hydrothermal conditions in a stirred autoclave reactor at a temperature range of 250–350 °C. Lignin conversion to phenolic compounds was conducted in subcritical water together with different reaction medium (H2, CO2, and HCOOH). The organic fraction in the aqueous liquid product was extracted and blended with biodiesel at a dosage of 1 wt % to evaluate its antioxidant potential. According to the obtained results, the biodiesel oxidation stability time was drastically improved up to 400%. The depolymerization temperature was observed as a critical factor in the antioxidant potential of the additives, showing a maximum value at 300 °C, regardless of the reaction medium. An extensive characterization of the produced additives was performed. The phenolic monomers present in the produced additives were identified using gas chromatography–mass spectrometry, finding a notable presence of catechol, especially in the additives obtained at 300 °C, which led to the best results of biodiesel oxidation stability. Gel permeation chromatography analyses of the additives also showed a well dissolution of relatively big molecules (up to 7000 Da) in biodiesel. More efforts are required to verify the actual antioxidant potential of these types of molecules.