As the largest producer of palm oil, Indonesia has abundant oil palm empty fruit bunch (EFB), as one of the solid wastes produced from palm oil mill, which utilization has not yet been optimal although it has a potency to be used as feedstock for biofuel and bio-based chemicals. However, due to the recalcitrant characteristic of EFB as lignocellulosic material, EFB conversion into biofuel and bio-based chemicals has been a challenge, especially in regard to its economic viability. To obtain the economically viable of the conversion of EFB, the integrated EFB biorefinery technology concept was proposed to produce multiple products which are precursors for biofuel and bio-based chemicals. This paper presents the integrated EFB biorefinery technology concept, economic analysis of the technology, the role of the technology for circular bioeconomy in Indonesia, and the biorefinery industrialization concept in Indonesia as part of an effort for “Making Indonesia 4.0”.