Despite the increasing global need for sustainable energy, biomass gasification is becoming a highly promising method for transforming raw biomass into usable energy. The present review article analyzes the essential aspects of biomass‐based energy production, starting with an assessment of existing energy needs and the crucial contribution that biomass can make in fulfilling these demands. The research investigates recent advancements in several biomass gasification methods, explaining their mechanics and discussing the related difficulties. The research conducts a thorough evaluation of the efficiency, yield, and environmental consequences of biomass gasification, aiming to determine the feasibility of the technique. In addition, the study rigorously assesses the techno‐economic factors of energy generation from biomass, providing valuable information on the economic viability and scalability of various biomass gasification techniques. The present study is focused on providing a comprehensive understanding of biomass gasification by analyzing current improvements and conducting a techno‐economic comparison to make well‐informed decisions for a sustainable energy future.