Lignocellulosic biomass pyrolysis could be an economically feasible option for forest management as it reduces the need to burn litter and helps in fire prevention thus avoiding the release of carbon dioxide and other greenhouse gases into the atmosphere. This study characterises wood vinegar (WV) obtained via a continuous fast pyrolysis process in terms of its composition, ageing and herbicidal properties. The aqueous WV fraction had a moisture content of 84% in weight and contained more than 200 compounds. Acetic acid, hydroxyacetaldehyde and hydroxyacetone were the major components. No significant differences were found in WV composition according to the starting material (poplar, pine, pruning litter, forest waste). No residual aromatic polycyclic compounds that could be harmful to the environment were detected. In a series of climate-controlled glass chamber experiments, the WV proved to be as effective an inhibitor of seed germination and seedling growth as a contact herbicide acting against weeds, especially through aerial contact. Sprayed WV concentrations of 50, 75 and 100 vol. % were effective against all plant species tested. This product could therefore be of commercial interest and help make biomass pyrolysis economically viable, once environmental exposure limits and the safe application for agricultural and urban use of this product have been established.