This study aimed to investigate the liquid–liquid equilibrium (LLE) behavior of sesame fatty acid ethyl ester (FAEE) and methyl ester (FAME) in combination with glycerol and the co-solvents ethanol and methanol. FAEE and FAME were produced through the transesterification of mechanically extracted and purified sesame oil, using potassium hydroxide (KOH) as a homogeneous base catalyst. The reactions were conducted in ethanol and methanol to produce FAEE and FAME, respectively. Post-reaction, the products were separated and purified, followed by an analysis of the LLE behavior at 313.15 K and 323.15 K under atmospheric pressure (101.3 kPa). The experimental process for the miscibility analysis utilized a jacketed glass cell adapted for this study. Miscibility limits or binodal curves were determined using the turbidity-point method. Tie lines were constructed by preparing mixtures of known concentrations within the two-phase region, which allowed the phases to separate after agitation. Samples from both phases were analyzed to determine their composition. This study revealed that higher temperatures promoted greater phase separation and enhanced the biodiesel purification process. The NRTL model effectively correlated the activity coefficients with the experimental data, showing good agreement, with a root-mean-square deviation of 3.5%. Additionally, the data quality was validated using Marcilla’s method, which yielded an R2 value close to 1. Attraction factors and distribution coefficients were also calculated to evaluate the efficiency of the co-solvents as extraction agents. The findings indicated higher selectivity for methanol than for ethanol, with varying degrees of distribution among the co-solvents. These results offer significant insights into enhancing biodiesel production processes by considering the effects of co-solvents on the LLE properties of mixtures, ultimately contributing to more efficient and cost-effective biodiesel production.