Xylitol production from corncob hemicellulose is a popular process in China. Microbial conversion of xylose to xylitol, as a biological process with many advantages, has drawn increasing attention. As a by-product from the manufacturing of xylitol, corncob cellulosic residues are produced in very large amounts and represent an environmental problem. As a result, considering the large amount of xylitol production in China, the conversion of corncob cellulosic residues has become a widespread issue having to be tackled. After the hemicellulose in corncob has been hydrolyzed for xylitol production, the corncob cellulosic residue is porous and can easily be hydrolyzed by cellulases into glucose and further converted to ethanol, another high-added-value chemical. Based on the latest technology advancements in xylitol, cellulase, and ethanol production, the integrated production of ethanol from corncob cellulosic residues appears as a promising way to improve the profit of the whole xylitol production process.