The purpose of this investigation was to gain insight into the applicability of different solvents for obtaining useful bio-based products like protein (as functional food ingredient), polyphenols (as natural antioxidant), or phytosterols (for pharmaceutical use) from rapeseed press-cake (the major residual biomass from oil industries). This biomass valorization would in-turn add to the sustainability and aggregate value to the waste management cycle. Commonly used solvents were employed for extraction and were segregated on the basis of their efficacy in removing polyphenols, tannins and residual oil from the cake, protein enrichment in the meal and also according to their chemical variability in GC–MS spectra of the solvent extracts, using principal component analysis. While still in the early stages of investigation, the obtained results reflect solvent treatment of oil-cakes as a promising strategy for biomass valorization in oilseed processing industries and other bio-refineries.