Recent advances in biochar utilization, production methods, properties and characterization techniques, are discussed. The potential biochar applications include its use as precursor for catalyst, soil amendment for improving soil quality and carbon sequestration, sorbent for removing contaminants from soil and water, storage material for CO2 and H2, and as fuel for fuel cells. Overall, use of char as sustainable high-value products seems to have a very promising future. However, in order to successfully utilize for various purposes, biochar properties need further improvement and tailoring for the appropriate applications. Standards and methods used to determine structure and properties of biochar need further development so that its effectiveness as soil amendment, catalyst and sorbents can be realized.