The traditional textile use of wool as a valuable renewable material needs alternative applications in order to, besides sheep milk and meat, valorize currently unnecessary wool. Each type of product containing sheep wool requires wool with customized properties. Finding suitable physical and chemical modifications needed to develop new products while minimizing harmful side effects is a challenge for scientists. The presented review provides a brief overview of works published over the last decade associated with innovative wool scouring, dyeing, antifelting, and modification of its structure without the ambition to present complete, detailed data.