The olive pomace oil extracting industry generates large amounts of exhausted olive pomace (EOP), a lignocellulosic waste that needs to be managed according to sustainable criteria. The aim of this work is to devise an integrated strategy to valorize EOP by applying two‐step extraction, and to evaluate the effect of an ethanol organosolv pretreatment on the delignification and enzymatic hydrolysis of the extracted EOP. Once the extraction and organosolv pretreatment conditions are selected, solubilized lignin is recovered from the pretreatment liquor using different methods. In addition to those organosolv lignin samples, a lignin‐rich solid is obtained after enzymatic saccharification of the pretreated solid. All the lignin samples are fully characterized aiming at further valorization. The selected two‐step aqueous extraction (85 °C, 90 min, 10% biomass) removes 89% of the extractives content in raw EOP and achieves the full recovery of phenols and mannitol content in that fraction, 4.7 mg gallic acid equivalents per g EOP and 4.5 mg g⁻¹ EOP, respectively. The organosolv pretreatment (50% ethanol catalyzed with 1% H₂SO₄, 140 °C, 60 min, 15% biomass) results in a delignified solid with 81% of enzymatic digestibility and a high purity organosolv lignin (>71%), rich in guaiacyl units.