Abstract: The total amount of straw resource is increasing with the development of agriculture in Vietnam. But straw burning has become a critical issue as comprehensive utilization of crop residue has not yet been promoted due to the lack of available processing technologies. In recent years, biochar production via pyrolysis of waste biomass has been proposed as a new dimension of crop residue recycling in agriculture. In this study, a questionnaire survey with interviews to local farmers was conducted in randomly visited villages to investigate agricultural waste utilization and practical problems in resource utilization, the potential benefits of biochar produced by rice straw were estimated by cost-benefit analysis. The results showed that the income of straw carbonization could reach 1275 CNY/(hm2 ·a), and the income of biochar carbon trading could reach 117 CNY/(hm2·a). Furthermore, environmental and social benefits of biomass carbonization were also analyzed to provide a scientific basis for straw carbonization resource utilization in Vietnam and the Association of South-eastern Asian countries, as well as references for biochar production development.