The science of biochar production and application has made rapid progress in the past few decades worldwide. However, industrial-scale pyrolysis of biomass for biochar production in general, and Malaysia in particular, is still in its early stage of development. However, the acceptance towards biochar is easier if there are clear economic incentives and benefits from the systematically organized biochar management. The thermochemical process has strong adaptability to biomass resources, especially with abundant oil palm biomass available in the country. It is clear that biomass conversion and sequestration projects have the potential to contribute significantly to climate change mitigation. In addition, producing biochar from oil palm biomass provides promising co-benefits, including the generation of renewable electricity, liquid biofuels, gas biofuels, large amounts of heat or low pressure steam, and the potential of a net withdrawal of carbon dioxide from the atmosphere. In the future, biochar, standing by its own, is not enough to reduce GHG to manageable safety level, but it can be among the options big enough, implemented and integrated together among the palm oil-producing countries with many different approaches, to promise a major positive impact in the challenges to combat climate change and crop productivity.