Bio-oil and bio-gas are oil-based old and gas products that basically do not change the utilization form of oil and gas and can realize carbon reduction. In 2007, the total production of bio-oil and bio-gas in China was about 6.89 million tons of standard coal, accounting for about 17% of biomass energy products. This paper focuses on China's bio-oil and bio-gas, analyzes the new situation, new requirements and new problems of China's bio-oil and bio-gas development, and puts forward relevant suggestions for the next step of development on the basis of analyzing the current situation of bio-oil and bio-gas development. The results show that, compared with traditional oil and gas, bio-oil and bio-gas have the characteristics of decentralized small-scale and point-to-point production and operation in a wider range, the characteristics of transportation and utilization in terms of proximity and access to the network, the characteristics of inter-industry and multi-sector, as well as the characteristics of the development mode in which franchising and market operation coexist. Climate governance and carbon–neutral targets are the new driving force for bio-oil and bio-gas development, scale-up and model innovation are the new requirements for their development, and the coexistence of export obstruction and insufficient domestic market capacity are the new problems facing biodiesel development. Facing the future, bio-oil and bio-gas need to implement the four major strategies of “raw materials, market, mode and technology”. Further efforts should be made to improve the collection, transportation and storage system of organic waste related to bio-oil and bio-gas, and expand the scale of their feedstock. We should expand the scope of domestic automobile fuel promotion, expand the international market of bio-ship fuel and bio-jet fuel, and enhance the resilience of bio-oil and bio-gas development. We also should expand the carbon-negative effect of bio-oil and bio-gas by taking the distributed application scenario of bio-oil and bio-gas and the low-carbon and green certification system as the key. Focusing on lignocellulosic ethanol, microalgae diesel, sustainable aviation fuel, and synthetic biofuel, we will increase scientific and technological innovation to promote the iterative upgrading of bio-oil and bio-gas industry.