The growing search for alternative energy sources is not only due to the present shortage of non-renewable energy sources, but also due to their negative environmental impacts. Therefore, a lot of attention is drawn to the use of biomass as a renewable energy source. However, using biomass in its natural state has not proven to be an efficient technique, giving rise to a wide range of processing treatments that enhance the properties of biomass as an energy source. Torrefaction is a thermal process that enhances the properties of biomass through its thermal decomposition at temperatures between 200 and 300 °C. The torrefaction process is defined by several parameters, which also have impacts on the final quality of the torrefied biomass. The final quality is measured by considering parameters, such as humidity, heating value (HV), and grindability. Studies have focused on maximizing the torrefied biomass’ quality using the best possible combination for the different parameters. The main objective of this article is to present new information regarding the conventional torrefaction process, as well as study the innovative techniques that have been in development for the improvement of the torrefied biomass qualities. With this study, conclusions were made regarding the importance of torrefaction in the energy field, after considering the economic status of this renewable resource. The importance of the torrefaction parameters on the final properties of torrefied biomass was also highly considered, as well as the importance of the reactor scales for the definition of ideal protocols.