The growing demand for sustainable and environmentally friendly fuels and the increasing need to diversify energy sources have stimulated significant research in the field of renewable motor fuels. Despite the progress made, there is still a need to expand the feedstocks, optimize technological pathways, and, in particular, conduct comprehensive studies of the compatibility of renewable components with traditional fuels. In light of the above, the authors propose optimizing the properties of renewable fuels by using new vegetable oils and alcohols for their synthesis. The work is focused on studying the basic physical–chemical properties of fatty acid esters and assessing the possibility of using them as renewable components of motor fuels. Renewable components were obtained via the esterification of selected plant oils (rapeseed oil, camelina oil, palm kernel oil, and coconut oil) with different alcohols (ethanol and isobutanol) with further vacuum distillation of esters. The influence of the structure and composition of renewable components on their physical–chemical properties was studied and substantiated. It shows how the carbon number distribution and double bonds in fatty acid radicals influence the properties of renewable components. The paper shows the impact of the type and structure of alcohol used for esterification on the properties of studied products. The regularities in the change in properties of renewable components depending on the composition of oils and alcohols are explained and substantiated from the point of view of physical chemistry and the basics of forces of intermolecular interactions. Renewable components were compared to the properties of conventional motor fuels (diesel fuel and jet fuel). Based on the level of component compatibility with petroleum fuels, recommendations for replacing or blending petroleum fuels with renewable components were proposed.