Nonedible vegetable oil feedstocks are promising for sustainable production of biodiesel. Thermal decomposition characteristics of the feedstocks and their biodiesel are crucial for handling and quality control. Thermal degradation of rubber seed oil (RSO) and rubber seed oil methyl esters (ROME) was investigated with the help of thermogravimetry. The samples were pyrolyzed from 30 to 800 °C at heating rates of 10 °C/min to 50 °C/min with a 10 °C/min increment under a nitrogen atmosphere. The temperature window for thermal degradation of RSO and ROME was shifted toward a higher range as the heating rate increased from 10 °C/min to 50 °C/min. A transesterification reaction leads to a decrease in the molecular weight of triglycerides present in the sample (RSO), and this causes a lower thermal stability of the produced product (ROME). Fourier transform infrared (FT-IR) analysis of evolved gaseous products during pyrolysis revealed the formation of water, carbon dioxide, carbon monoxide, and saturated (alkanes) and unsaturated (alkenes) aliphatic hydrocarbons. Friedman (FRD), Flynn−Wall− Ozawa (FWO), modified Coat−Redfern (MCR), and Kissinger (KM) methods and Avrami theory were applied to calculate the values of activation energy (E), order of reaction (n), and enthalpy (ΔH). Furthermore, the pre-exponential factor (A), entropy (ΔS), and Gibbs free energy (ΔG) were also calculated.