In this study, a homogenizer in conjunction with a two-stage process was utilized to facilitate biodiesel production from waste edible oil (WEO). This paper contributes to the improvement of the yield and the shortening of the reaction time for biodiesel synthesis. Sulfuric acid was used in the first stage which was the esterification of the free fatty acids (FFA) of the WEO; then the transesterification reaction of triglycerides took place in the second stage with an alkaline catalysis. The present investigation aimed to explore the parameters affecting the reactions, including homogenizer speed, alcohol/oil molar ratio, catalyst dosage, reaction temperature, and reaction time. Under the operating conditions of the first stage (the reaction temperature was 65 °C, the homogenizer speed was 8000 rpm, the methanol/oil molar ratio was 15:1, and the amount of sulfuric acid was 4 wt%), the acid value fell to below 2 mg KOH/g after 10 min. The best base-catalyzed conditions in the second stage were: homogenizer speed of 8000 rpm, NaOH catalyst concentration of 1 wt%, methanol/oil molar ratio of 9:1 (mol/mol), reaction temperature of 65 °C, and reaction time 10 min. Consequently, the conversion rate from WEO to biodiesel achieved 97% after only 20 min, in line with the EU EN14214 standard, which requires a biodiesel production rate of at least 96.5%.