Recently, the utilization of agro-industrial lignocellulosic waste materials has received much attention for the production of value-added products like enzymes, organic acids and biofuels. Microbial-based environment-friendly approaches are receiving greater attention for the management of these waste materials in both developing and developed countries due to the increase in problems associated with industrialization and environmental pollution. Agroindustrial lignocellulosic biomass is renewable, inexpensive and abundant and hence can be used as a unique natural source for the cost-effective and large-scale production of these valuable products. Microbial and enzyme technology is one of the most promising approaches in the field of industrial biotechnology for the production of numerous commercial products. Currently, enzymes are extensively used in various industrial sectors like food, pharmaceutics, odontology, textile, detergent, bioremediation, paper and pulp, and wine and brewery. Many industries focused on the utilization of agro-based wastes containing lignocellulosic material as a substrate for the large-scale production of industrial enzymes through either solid-state or submerged fermentation. However, biomass transport, proper handling and pretreatment methods for delignification are some of the limitations associated with the use of lignocellulosic materials. Recently, there has been a resurgence in the utilization of various agricultural wastes like sugarcane baggase, wheat straw, wheat bran, rice straw, rice bran, corn cobs, corn stover, banana waste, hardwood, softwood, newspaper, office paper, groundnut shell, coffee by-products, sweet sorghum and grasses for the cost-effective production of enzymes with better yield and novel activity, which can help to bring sustainability in the agriculture sector. Further improvements in enzyme technology can be achieved by incorporating desirable characteristics through some latest techniques like in silico characterization, regulation of metabolic flux, recombinant DNA technology and microarray technology. This chapter describes the biotechnological importance of the utilization of lignocellulosic biomass for the production of industrial enzymes.