Present review deals with the recent advancements in production of environmental friendly oils and bio-fuels by utilizing the naturally accruing microbes to meet the demands of different industrial areas including food, pharmaceuticals, chemical and bio-fuel industries through the economical means. Efficient biomass saccharification method using cellulase produced by the T. reesei (Trichoderma reesei). In particular, some of the non-sugar chemical substances contained in the saccharification solution interfere with the growth of oleaginous yeast, so a saccharification reaction system that is not toxic to oleaginous yeast is established. Furthermore, taking into account the addition of the saccharification solution to a medium of the oleaginous yeast, a process for obtaining a high concentrated saccharification solution is established. Lipids are produced using sugar obtained by saccharification of biomass as a carbon source. The obtained results fed back to solve various problems that may occur during lipid production. It is to establish a simultaneous saccharification and fermentation process in which enzymatic biomass saccharification and oleaginous yeast cultivation are performed in one vessel. So this review therefore aim to produce oils from oil-producing microbes and other products to meet the demands of different industrial areas including food, pharma, chemical, and biofuel industries, my purpose is to construct a one-stop process of biomass saccharification by T. reesei cellulase and oil production by oleaginous yeast using the obtained sugar as a carbon source.