Biomass raw materials are widely regarded as a significant source of renewable energy, which significantly reduces the dependence on traditional fossil fuels, especially in the case of countries that are able to obtain biomass from various sources. Recently, pelletization has been widely used for mass and energy densification of biomass to overcome the problems associated with raw material use. As the global pellet market has developed quickly, the use of wood residues became no longer sufficient to fulfill the market needs. The standards of pellets provide limits for both physical and mechanical characteristics of produced pellets. Characteristics of produced pellets depend mainly on the feedstock characteristics as particle size and moisture content and operating conditions as applied pressure and die temperature. Thus, this paper provides rich information on the factors affecting the physical and mechanical properties of granules included in pellets. The main goal of the paper is to review the latest and comprehensive research on the physical and mechanical properties of most types of single and mixed pellets from biomass. The analysis of the effect of properties, adhesives, humidity, pressure and temperature as well as the physical and mechanical properties of the pellets studied was carried out. In addition, the critical and optimal values of various factors for different materials in which the following is of importance: high quality of pellets and biomass from which they are produced were analyzed. The principle and effect of applying post-production conditions as steam explosion and torrefaction on the characteristics of the pellets were reviewed in details. Moreover, this study proposes some recommendations for further development of the pelletization analysis and characteristics.