The main aim of this work is to optimize the transesterification process for production of Biodiesel from linseed oil, which has better properties of Viscosity,Flash point, and Calorific value. Efforts have been made to optimize transesterification process for Biodiesel production by considering methanol quantity, potassium hydroxide quantity, reaction time, reaction temperature and stirrer speed. Different analytical methods such as TLC, NIR Spectroscopy, and 1H NMR Method are usedto analyze transesterification reaction. In addition to this, various Physio-Thermal properties and lubricity of Biodiesel (Linseed Oil Methyl Ester–LOME) and Diesel -Biodiesel blends were studied using SRV Wear testeR machine and these are compared with that of petrodiesel.