This paper aims at demonstrating the significance of biochar risk evaluation and reviewing risk evaluation from the aspects of pyrolysis process, feedstock, and sources of hazards in biochar and their potential effects and the methods used in risk evaluation. Feedstock properties and the resultant biochar produced at different pyrolysis process influence their chemical, physical, and structural properties, which are vital in understanding the functionality of biochar. Biochar use has been linked to some risks in soil application such as biochar being toxic, facilitating GHGs emission, suppression of the effectiveness of pesticides, and effects on soil microbes. These potential risks originate from feedstock, contaminated feedstock, and pyrolysis conditions that favor the creation of characteristics and functional groups of this nature. These toxic compounds formed pose a threat to human health through the food chain. Determination of toxicity levels is a first step in the risk management of toxic biochar. Various sorption methods of biochar utilized low-cost adsorbents, engineered surface functional groups, and nZVI modified biochars. The mechanisms of organic compound removal was through sorption, enhanced sorption, modified biochar, postpyrolysis thermal air oxidation and that of PFRs degradation was through activation, photoactive functional groups, magnetization, and hydrothermal synthesis. Emissions of GHGs in soils amended with biochar emanated through physical and biotic mediated mechanisms. BCNs have a significance in reducing the health quotient indices for PTEs risk contamination by suppressing cancer risk arising from consumption of contaminated food. The degree of environmental risk assessment of HM pollution in biomass and biochars has been determined by using potential ecological risk index and RAC while organic contaminant degradation by EPFRs was considered when assessing the environmental roles of biochar in regulating the fate of contaminants removal. The magnitude of technologies’ net benefit must be considered in relation to the associated risks.