In the quest to comply with the Intergovernmental Panel on Climate Change (IPCC) on reducing the global temperature to 1.5-2.0°C as a measure to minimize the climate change caused by the emission of greenhouse gases from the combustion of fossil fuels, and the need for replacement of these fossil fuels, which are also generally believed to be depleting, biodiesel is being studied as a potential replacement for the conventional petroleum diesel. This fuel among other desired properties is renewable, biodegradable, sustainable, and emits less particles. It also contains no amount of sulfur, in addition to possessing most of the good characteristics of petroleum diesel. At the moment, more than 95% of biodiesel produced globally is obtained from vegetable oil feedstocks, which are usually very expensive and thus, without tax waiver and subsidy, makes biodiesel non-competitive with the petroleum diesel. Based on this, non-edible feedstocks are being investigated. Although, their oil yield is low, studies are carried out to ensure efficient extraction. The economics of the process is considered to determine the most economic variables that impact the profitability of biodiesel production. This chapter deals with the biodiesel classification, feedstocks, lipid/oil extraction, biodiesel production methods and the economic aspect of the process.