The processing of plant biomass into demanded and economically viable products is currently a recognized global trend. Among alternative energy directions, biomass conversion is the most predictable and sustainable carbon resource that can replace fossil fuels. Already today, plant biomass provides almost 25% of the world’s energy supply. This review provides information on the most promising areas of chemical and biotechnological processing of the biomass of such an energy plant as miscanthus. The choice of miscanthus is due to its high yield (up to 40 t/ha of sown area) and high energy yield (140–560 GJ/ha) compared to other plant materials. In addition, miscanthus is able to grow on marginal lands and does not require special agronomic measures, while in the process of its cultivation, the soil is enriched with organic substances and it is cleaned from pollutants. The review reflects the directions of processing of native biomass and pretreated biomass. Miscanthus biomass, in addition to processing into energy resources, can be fractionated and transformed into many high-value products - cellulose, cellulose nitrates, ethylene, hydroxymethylfurfural, furfural, phenols, ethylene glycol, cooking solutions after nitric acid pretreatment of miscanthus biomass can act as lignohumic fertilizers. In addition, on the basis of miscanthus cellulose hydrolysates, it is possible to obtain benign nutrient media for biotechnological transformation into bacterial nanocellulose, for the accumulation and isolation of various microbial enzymes.