Lignocellulosic biomass is the most abundant renewable energy resource on earth that can be utilized for biofuel production. However, its utilization in biofuel production is limited due to its complex structure and recalcitrant nature. The anaerobic biomass degradation can be improved by recruiting suitable microbes with efficient enzyme system and utilizing termite gut microorganisms represents a prospective way to do so. This review provides an overview of termites and their types along with their associated symbionts, their distribution and enzyme production throughout the gut segments for efficient lignocellulosic biomass degradation. Furthermore, application of omics to elucidate the role and relationship of individual host termite, isolated symbiont, host-microbes interaction and microbe-microbe interaction, their physiology, and biochemistry has been thoroughly discussed. In addition, the potential of termite gut microbiota and future perspective for biomethanation of lignocellulosic biomass has been highlighted. With the further advancement in omics technology, a lot more information will be unfolded and further improve our understanding of one of the most efficient natural lignocellulosic biomass utilization systems. Improved understanding of termite and its associated symbionts can result in important technological breakthroughs that will further establish the potential of termite gut microbiota for biomethanation of lignocellulosic biomass.