Several types of research have been carried out on using alternative biofuel in internal combustion engines to salvage the depletion of fossil fuels. While most of these studies focused on the emission characteristics and control of global warming, little attention has been given to the corrosion, wear, thermal behaviour, and compatibility of the internal combustion engine materials to biodiesel. Thus, this study focused on the various corrosion and wear mechanisms associated with the internal combustion engine components like piston and cylinder heads, as well as the thermal behaviour efficiencies of the engine after interaction with the biodiesel fuels. The review cut across the wear study of internal combustion engine materials in varying fuel environments. Thermal analysis of different materials applied for internal combustion engines for sustainable fuel media. Corrosion study of various materials employed in the application of ICE engines. Also, the study discusses some significant challenges related to the compatibility of ICE with biodiesel and gaseous fuels. The study’s outcome indicates that an adequate fuel blend with nano additives can help improve the combustion process, emission reduction, and thermal efficiency of the internal combustion engine components. Furthermore, practical design in the internal combustion engine components like pistons will help compatibility with the material in the biodiesel blends, thus reducing wear, corrosion, and other failures associated with the internal combustion engine.