Fischer–Tropsch synthesis is a set of catalytic processes that can be used to produce fuels and chemicals from synthesis gas (mixture of CO and H2), which can be derived from natural gas, coal, or biomass. Biomass to Liquid via Fischer–Tropsch (BTL-FT) synthesis is gaining increasing interests from academia and industry because of its ability to produce carbon neutral and environmentally friendly clean fuels; such kinds of fuels can help to meet the globally increasing energy demand and to meet the stricter environmental regulations in the future. In the BTL-FT process, biomass, such as woodchips and straw stalk, is firstly converted into biomass-derived syngas (bio-syngas) by gasification. Then, a cleaning process is applied to remove impurities from the bio-syngas to produce clean bio-syngas which meets the Fischer–Tropsch synthesis requirements. Cleaned bio-syngas is then conducted into a Fischer–Tropsch catalytic reactor to produce green gasoline, diesel and other clean biofuels. This review will analyze the three main steps of BTL-FT process, and discuss the issues related to biomass gasification, bio-syngas cleaning methods and conversion of bio-syngas into liquid hydrocarbons via Fischer–Tropsch synthesis. Some features in regard to increasing carbon utilization, enhancing catalyst activity, maximizing selectivity and avoiding catalyst deactivation in bio-syngas conversion process are also discussed.