Biodiesel is produced by transesterification of variable vegetable oils or animal fats with lower alcohols in the presence of alkali catalysts; the crude glycerol is the main by-product of this process. The amount of the crude glycerol formed during transesterification processes is about 100 kg per tonne of oil. We have developed the method for synthesis of monoglycerides from crude glycerol. The yiel of monoglycerides reaches 46.8%. The monoglycerides are valuable products for many applications - emulsifiers for both food and pharmaceutical industry, stabilizers in cosmetic industry; there is a large field in technical applications (e.g., modifying agents in the manufacturing of alkyd resins, detergents and other surface-active agents). Glycerolysis of fatty acids as well as triglycerides with crude glycerol (especially, if both raw materials are obtained as by-products) leads to more commercially viable biodiesel production.