Lignocellulose is one of the most abundant renewable resources in the earth. Its use can effectively alleviate the dependence on fossil fuels. With its complex structure, the lignocellulose hydrolysis is a key process in the conversion of lignocellulose. This paper discusses problems of lignocellulose hydrolysis in producing sugars and compares advantages and disadvantages of various methods in doing so. Recent progresses in lignocellulose hydrolysis to produce polyol chemicals, energy chemicals and new platform chemicals are reviewed. Finally, the development prospect is discussed for related studies.