Lignocellulosic biomass has gained extensive research interest due to its potential as a renewable resource, which has the ability to overtake oil-based resources. However, this is only possible if the fractionation of lignocellulosic biomass into its constituents, cellulose, lignin and hemicellulose, can be conducted more efficiently than is possible with the current processes. This article summarizes the currently most commonly used processes and reviews the fractionation with innovative solvents, such as ionic liquids and deep eutectic solvents. In addition, future challenges for the use of these innovative solvents will be addressed.