There is an increased interest in renewable carbon as a source of materials, where lignin is expected to play a prominent role. This stems, partially, from new regulations aiming to achieve a cleaner and safer environment. Lignin, as a polyaromatic plant-derived biomolecule, is not only abundant but widely accessible in industrial streams. Due to recent developments in production scalability as well as promising application prospects, nanoscaled lignin particles have recently generated interest in the research and industrial communities. This review describes the main routes to prepare spherical lignin particles, highlighting aspects associated to their shape and topology as well as performance. We discuss the use of spherical lignin particles as dispersants and in the formulation of coatings, adhesives and composites, focusing on the advantages of the spherical shape and nanoscaled size. The state of the particles is furthermore compared in terms of their applicability in dry and wet forms. Finally, we discuss the sustainability, stability and degradation of lignin particles, which are issues that are critically important for any prospective use.