The suitability of industrial hemp (IH) as a source of fibres for European industrial-scale papermaking, including, in particular, European kraft pulp mills (EKMPs) (i.e., plants producing the predominant amount of virgin pulps in Europe), was discussed, considering the causal, cultivation, technological, and application aspects of this issue. The work showed that there are generally premises for using straw from nonwood crops in European papermaking. As for the IH, it was found that IH stalks are the best IH fibrous raw material for EKMPs. There are a few cultivation factors favouring the use of IH stalks in them and a few, though important (e.g., small cultivation areas), factors not conducive to this use. Most technological factors favour the use of IH stalks in EKPMs, apart from the large differences in the length of the IH bast and woody-core fibres. The analysis of application factors indicates lower usefulness of IH stalks than wheat, rye or triticale straws, stalks of Miscanthus × giganteus, Virginia mallow, and kenaf. This is due to the much greater availability of these cereal straws than IH and less variation in the fibre length of cereal straws, Miscanthus × giganteus, Virginia mallow, and kenaf than in IH stalks. The main conclusion from the conducted query is the statement that the presence of IH varieties with fibre lengths more similar to wood would reduce the number of technological and application factors unfavourable to their use in EKPMs and increase the competitiveness of hemp straw vs. wood as a raw material for European large-scale papermaking.