Phosphorus‐modified mesoporous inorganic materials play crucial roles in the valorization of lignocellulosic biomass materials such as syngas (CO and H2), carbohydrate sugars and lignin. This review summarizes the recent advances on the Co‐impregnated phosphorus‐modified γ‐Al2O3 and SiO2 catalysts for production of liquid hydrocarbon fuels via Fischer‐Tropsch synthesis (FTS) reaction of syngas as well as metal phosphates or precious (Pt and Ru) metals‐supported on the metal phosphates for production of furanic compounds, levulinic acid, aromatics and fuel commodities from carbohydrate sugars and lignin. These phosphorus‐modified materials play key roles in the syngas as well as biomass conversion processes due to their tunable surface properties and mesoporous structures. Phosphorus to metal ratios of inorganic materials with their porosity, calcination temperatures of metal phosphates, natures of biomass feedstocks, and reaction variables significantly affect yields of both hydrocarbon fuels and value‐added chemicals. This short review mainly focusses on the various applications of those mesoporous catalysts and supports, and strategies for effective catalytic transformations of lignocellulosic biomass‐derived feedstocks.