Interests in securing alternatives to oil have been intensified in recent years. This work provides a conceptual design of a highly efficient Biomass-to-Liquid (BTL) fuels process that produces gasoline and diesel. It incorporated the configuration of biomass pre-pyrolysis followed by entrained flow gasification, which avoided separate torrefaction of feedstock and provided more syngas with a higher cold gas efficiency. The application of Fe-based slurry-phase Fischer-Tropsch synthesis further improved the gasoline/diesel yield to 10.2 GJ/t dry biomass with an overall energy efficiency of 58%, which is higher than current reports. However, the water consumption of BTL was much more than that of conventional petroleum refinery. A CO2 cycling scheme was developed in this design to reduce water consumption. The value-added of these features and performance of this BTL system are revealed. The production cost of this BTL was approximately 5,115 similar to 5,683 CNY/t with a breakeven crude oil price of 83 similar to 93 $/bbl. (C) 2019 Elsevier Ltd. All rights reserved.