Lignin is a promising alternative to traditional fossil resources for producing biofuels due to its aromaticity and renewability. Pyrolysis is an efficient technology to convert lignin to valuable chemicals, which is beneficial for improving lignin valorization. In this review, pyrolytic behaviors of various lignin were included, as well as the pyrolytic mechanism consisting of initial, primary, and charring stages were also introduced. Several parallel reactions, such as demethoxylation, demethylation, decarboxylation, and decarbonylation of lignin side chains to form light gases, major lignin structure decomposition to generate phenolic compounds, and polymerization of active lignin intermediates to yield char, can be observed through the whole pyrolysis process. Several parameters, such as pyrolytic temperature, time, lignin type, and functional groups (hydroxyl, methoxy), were also investigated to figure out their effects on lignin pyrolysis. On the other hand, zeolite-driven lignin catalytic pyrolysis and lignin co-pyrolysis with other hydrogen-rich co-feedings were also introduced for improving process efficiency to produce more aromatic hydrocarbons (AHs). During the pyrolysis process, phenolic compounds and/or AHs can be produced, showing promising applications in biochemical intermediates and biofuel additives. Finally, some challenges and future perspectives for lignin pyrolysis have been discussed.