The objective of this study was to transform limonene as an agro-chemical platform for the production of a wide range of added-value compounds for pharmaceutical, cosmetic and food ingredients. This molecule was also evaluated as an alternative solvent for the extraction of several bioactive compounds compared to n-hexane. Limonene was extracted from the essential oils of orange peels through a solvent-free microwave extraction technique. Limonene was successfully transformed into products with industrial interest by catalytic oxidation using three different iron catalysts. The ability of limonene to be used as an alternative solvent was performed using two simulation tools, Hansen solubility parameters (HSPs) and the Conductor-like Screening Model for Real Solvents (COSMO-RS), and via experimentation. The results indicated that limonene could be a promising green solvent and synthon for petroleum substitution in the extraction or synthesis of bioactive compounds.