In the last five years, the use of hydrogen as an energy carrier has received rising attention because it can be used in internal combustion and jet engines, and it can even generate electricity in fuel cells. The scope of this work was to critically review the methods of H2 production from renewable and non-renewable sources, with a focus on bio-H2 production from the perennial grass giant reed (Arundo donax L.) due to its outstanding biomass yield. This lignocellulosic biomass appears as a promising feedstock for bio-H2 production, with a higher yield in dark fermentation than photo-fermentation (217 vs. 87 mL H2 g−1 volatile solids on average). The H2 production can reach 202 m3 Mg−1 of giant reed dry matter. Assuming the average giant reed dry biomass yield (30.3 Mg ha−1 y−1), the attainable H2 yield could be 6060 m3 ha−1 y−1. A synthetic but comprehensive review of methods of H2 production from non-renewable sources is first presented, and then a more detailed analysis of renewable sources is discussed with emphasis on giant reed. Perspectives and challenges of bio-H2 production, including storage and transportation, are also discussed.