Waste residues produced by agricultural and forestry industries can generate energy and are regarded as a promising source of sustainable fuels. Pyrolysis, where waste biomass is heated under low-oxygen conditions, has recently attracted attention as a means to add value to these residues. The material is carbonized and yields a solid product known as biochar. In this study, eight types of biomass were evaluated for their suitability as raw material to produce biochar. Material was pyrolyzed at either 350 °C or 500 °C and changes in ash content, volatile solids, fixed carbon, higher heating value (HHV) and yield were assessed. For pyrolysis at 350 °C, significant correlations (p < 0.01) between the biochars’ ash and fixed carbon content and their HHVs were observed. Masson pine wood and Chinese fir wood biochars pyrolyzed at 350 °C and the bamboo sawdust biochar pyrolyzed at 500 °C were suitable for direct use in fuel applications, as reflected by their higher HHVs, higher energy density, greater fixed carbon and lower ash contents. Rice straw was a poor substrate as the resultant biochar contained less than 60% fixed carbon and a relatively low HHV. Of the suitable residues, carbonization via pyrolysis is a promising technology to add value to pecan shells and Miscanthus.