Zizania latifolia commonly known as wild rice grass which is available in huge quantities in Loktak Lake is a major concern as it occupies a large area of the Lake and causing a several environmental problems. The investigation of present study was to evaluate possibilities of using Zizania latifolia as feed stock for bioethanol production. The method involved the pretreatment with dilute acid or alkali followed by enzymatic hydrolysis with commercial cellulase. Acid pretreatment was performed with 10% biomass loading with different concentration of acids (0.4-2% w.v) and alkali (0.25-1.5% w.v). Maximum sugar release of 457 mg.g was obtained from 10% biomass loading and 2% w.v of acids. Alkali pretreatment is not effective for this grass. Physicochemical characterization of untreated and treated biomass was carried out by XRD, FTIR, SEM and corresponding alterations in the chemical composition were also monitored. Results showed the feasibility of this grass as biofuel (bioethanol) feed stock and can be potential approach to address the sustainable utilization phumdis grasses of Loktak Lake for the production of value added product.