Lignocellulosic biomass is an agricultural waste material abundantly produced in large quantities on earth. Rice husk (RH) is one of the lignocellulosic biomass and a huge byproduct of rice milling. Notably, the rice plant collects silica from the soil and stores the collected silica in the form of silicic acid inside the cellulose micro-compartments of the plant. Therefore, RH obtained from rice milling contains a significant quantity of amorphous silica, which can further be used for several other purposes. Furthermore, Silica-rich RH can be employed as raw material for the production of biofuels and biochars instantaneously via thermochemical processes like pyrolysis, gasification. This article thoroughly explored the prospective method of rice husk use to produce bio silica and energy at the same time, which is currently under investigation. Moreover, this study also discussed current improvements in the synthesis of RH silica materials and their long-term uses, particularly in energy and environmental functional materials. In terms of the environment, RH-silica materials may remove heavy metals and organic pollutants in soil amendment, wastewater treatment, and gas purification via adsorption, catalysis, and integrative methods. In essence, there are numerous research and development obstacles to the production of bio silica and biofuels, respectively, from RH to overcome, and this review article highlights all of them.