Miscanthus is a promising feedstock for second‐generation bioethanol production. This perennial crop produces its biomass in two phases: a yield‐building phase, where the biomass production increases gradually, and a plateau phase, where it is maintained. However, to target the breeding of Miscanthus for second‐generation bioethanol production, the early selection of interesting traits is critical. We therefore investigated the interannual correlations within and among the traits related to biomass production and composition. We studied 21 clones belonging to M. × giganteus J. M. Greef & Deuter ex Hodk. & Renvoize, M. sacchariflorus (Maxim.) Benth. & Hook. f. ex Franch., and M. sinensis Andersson species cultivated on plots from the second to the sixth year at two harvest dates. The biomass production, canopy height, plant stem number, and aboveground plant volume index were better predicted from the third year than from the second year (minimum correlation coefficients of 0.76 and 0.67 respectively). The stem diameter was well predicted from the second year (correlations above 0.93). The canopy height and the aboveground plant volume index determined in the second and third year were the best predictors of the biomass produced in the second, third, and fourth year (minimum correlations of 0.77 against 0.52 for flowering date or 0.64 for stem diameter). For older crops, the canopy height measured in the second and third year was the best predictor of the biomass production (correlations above 0.70). The interannual correlations were lower for the biomass composition‐related traits than for the production‐related traits and fluctuated over time. These results showed that early prediction of interesting traits is feasible to breed varieties tailored for biofuel production.