Olive oil is a characteristic product of Mediterranean countries, and its production is rapidly expanding to many other regions due to the health benefits attributed to the consumption of high-quality olive oil. Taking into account that the oil content is, on average, only 20% by weight of olives, a great amount of biomass, including leaves, pits, and pomace, is produced in the mill along with the main product. Moreover, the pruning of olive trees and the production of the olive pomace also generates a great amount of biomass. Currently, the usual practices for disposal of these different biomasses do not take advantage of the wide range of products that can be produced from them. This work summarizes the most relevant practices considering both the bioprocesses studied for the exploitation of the olive-derived biomass and the potential products obtained. The integration of processes in a single facility, i.e., the concept of a biorefinery based on olive-derived biomass, is also reviewed, including technoeconomic and environmental assessment.