The search for renewable energy sources is being intensified globally and this includes alternative fuels for compression engine. Biodiesel from inedible oil bearing seeds has been discovered as a good replacement for diesel fuel. This paper is a review of literature of formulae for engine parameters, performance of compression ignition engines when run with biodiesel from the most common feedstocks. Research findings show that biodiesel can replace or substitute diesel fuel and its biorefinery can be set in developing countries like Nigeria. The paper also highlight its advantages of biodiesel for reduce greenhouse emission as a renewable fuel.