During the last three decades, hydroprocessed fuels, biodiesel, and hybrid fuels derived from vegetable oils and animal fats were emerging as the prominent biofuels for compression ignition engine. A comparative analysis of production, chemical structure, fuel properties, and cost estimation of waste cooking oil-based biodiesel, hybrid fuel, and hydroprocessed fuels was carried out and reported in this article. Biodiesel was produced by transesterification process; hybrid fuel was prepared by three-phase microemulsion process, while hydroprocessed fuels were produced via hydro-processing followed by true boiling point distillation as per ASTM D2892 and ASTM D5236 specifications. The principal fuel properties of the biodiesel, hybrid fuel, and hydroprocessed fuels were measured as per ASTM/EN standards and compared with those of petro-diesel. The production cost per liter (L) of each of the biofuel was computed at the lab scale level. Moreover, the initial capital cost estimation for 400 L/batch/day pilot plant has been estimated on the basis of land, infrastructure, instruments, laboratory glassware, feedstock, chemicals, and workers. It is anticipated that more than 0.28 million USD are needed for the complete setup of pilot plant, which can get an approximate revenue of 0.1 million USD per annum, besides the environmental benefits.