Reed biomass is a widespread resource available in large quantities all over the world, it is fast growing, there is no need for cultivation, harvesting and use des not compete with any other industries. Despite all this, reed is still not widely used and many potential use alternatives have not been researched. Therefore, the aim of this study was to evaluate reed biomass use alternatives for sustainable resource management. A combination of multicriteria analysis methods was used to achieve the goal, which includes assessment of different, mutually incomparable factors, also considering the importance of each of them. Sensitivity analysis was carried out to verify the results. Complex index was developed to evaluate the commercialization potential of each alternative. The best alternatives for reed biomass use are in energy and construction sector, however some innovative products also have promising results. Biorefinery concept is most promising for commercialization of reed biomass in Latvia, however further studies should be carried out to achieve a more comprehensive understanding of reed biomass as a resource for bioeconomy and sustainable development in Latvia.