At present, the homogeneous base-catalyzed methanolysis reaction of vegetable oils is a most often used process for the industrial biodiesel production. The toxicity of methanol, the risk of the methanol vapor explosion and the possibility of the ethanol production from biorenewable resources have contributed to the development of a vegetable oil ethanolysis process for the biodiesel production. In the reaction of vegetable oils and ethanol in the presence of a catalyst, completely agricultural fuels consisted of fatty acid ethyl esters (FAEE) are obtained having physico-chemical properties similar to those of the appropriate methyl esters and diesel fuel. The ethanolysis reaction of various oily feedstocks has been widely studied to optimize the reaction conditions and to develop new catalytic systems and processes based on chemical and biological catalysts, as well as the development of non-catalytic processes. Most researches investigate the application of homogeneous base catalysts. This paper studies the review of vegetable oil ethanolysis investigations for the biodiesel production done so far. The goals of the paper are to present the development of FAEE synthesis by catalytic and non-catalytic processes, their advantages and disadvantages, the influence of some operating and reaction conditions on the process rate and ethyl esters yield, the kinetics models describing the ethanolysis process rate, the process optimization and the possibilities for improving the FAEE synthesis process. (C) 2011 Elsevier Ltd. All rights reserved.