Renewable energy has been developing rapidly in the U.S. over the past decades. This thesis first reviewed the status, challenges, and government policies related to the development of bioenergy products from forest-derived woody biomass. Forest management alternatives of loblolly pine (Pinus taeda) plantations for producing both timber and biofuels were then evaluated using economic and biological criteria. The PTAEDA3.1 computerized yield simulator was used to predict growth effects of various site preparation techniques, initial planting densities, and thinning activity. Results indicated that on Site Index 50 to 70 lands, the average annual yields of stem residues ranged from 0.86 to 1.20 tons per acre, from which 39.8 to 47.4 gallons of ethanol could be produced. The rise of relative biomass price would increase wood availability for biofuels. It will also boost intensive management practices, such as intensive site preparation, closer initial planting spacing, earlier thinnings and a shorter harvesting age.