The aim of this study was to investigate the optimal temperature range for waste wood and the effect torrefaction residence time had on torrefied biomass feedstock. Temperature range of 200–400 °C and residence time of 0–50 min were considered. In order to investigate the effect of temperature and residence time, torrefaction parameters, such as mass yield, energy yield, volatile matter, ash content and calorific value were calculated. The Van Krevelen diagram was also used for clarification, along with the CHO index based on molecular C, H, and O data. Torrefaction parameters, such as net/gross calorific value and CHO increased with an increase in torrefaction temperature, while a reduction in energy yield, mass yield, and volatile content were observed. Likewise, elevated ash content was observed with higher torrefaction temperature. From the Van Krevelen diagram, it was observed that at 300 °C the torrefied feedstock came in the range of lignite. With better gross calorific value and CHO index, less ash content and nominal mass loss, 300 °C was found to be the optimal torrefaction temperature for waste wood.