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Hydrodeoxygenation (HDO) reaction is a route with much to offer in the conversion and upgrading of bio-oils into fuels; the latter can potentially replace fossil fuels. The catalyst's design and the feedstock play a critical role in the process metrics (activity, selectivity). Among the different classes of catalysts for the HDO reaction, the transition metal phosphides (TMP), e.g., binary (Ni2P, CoP, WP, MoP) and ternary Fe-Co-P, Fe-Ru-P, are chosen to be discussed in the present review article due to their chameleon type of structura