In this review, we collected and presented evidence from the scientific literature regarding the biotechnological production and applications of limonene and its oxidative derivates in various fields such as food, pharmaceutical, cosmetic or polymer industries. Limonene biotransformations may be regarded as biotechnological processes aligned to sustainable development. Advantages associated with these bioprocesses include the use of by-products as raw materials, mild reaction conditions, high regio- and stereoselectivity and the production of value-added products. The biological activities of limonene and its oxidative derivates, such as carveol, carvone, limonene-1,2-diol, α‑terpineol, or perillyl alcohol, suggest that the terpene biotechnology is becoming a promising and prosperous science.