Pyrolysis has been applied in the human economy for many years, and it has become a significant alternative to the production of chemical compounds, including biofuels. The article focuses mostly on recent achievements in the technical and processing aspects of pyrolysis. This review provides an overview of the recent advanced pyrolysis technology used in gas, bio-oil, and biochar production. The key parameters to maximize the production of specific chemical compounds were discussed and considered during the construction of the reactors. The emphasis is put on optimizing the process parameters, technical requirements, and renewable energy use in the process and conception to improve the efficiency of product production. The application of pyrolysis gas, oil, and biochar as valuable chemical compounds are related to the intensifying effects of climate change, biofuel production, and waste management in accordance with the principles of sustainable development.