Raising the awareness of carbon dioxide emissions, climate global warming and fossil fuel depletion has renewed the transition towards a circular economy approach, starting by addressing active bio-economic precepts that all portion amounts of wood are valorised as products. This is accomplished by minimizing residues formed (preferably no waste materials), maximizing reaction productivity yields, and optimising catalysed chemical by-products. Within framework structure determination, the present work aims at drawing a parallel between the characterisation of cellulose–lignin mixture (derived system model) liquefaction and real conversion process in the acidified ethylene glycol at moderate process conditions, i.e., 150 °C, ambient atmospheric pressure and potential bio-based solvent, for 4 h. Extended-processing liquid phase is characterized considering catalyst-transformed reactant species being produced, mainly recovered lignin-based polymer, by quantitative 31P, 13C and 1H nuclear magnetic resonance (NMR) spectroscopy, as well as the size exclusion- (SEC) or high performance liquid chromatography (HPLC) separation for higher or lower molecular weight compound compositions, respectively. Such mechanistic pathway analytics help to understand the steps in mild organosolv biopolymer fractionation, which is one of the key industrial barriers preventing a more widespread manufacturing of the biomass-derived (hydroxyl, carbonyl or carboxyl) aromatic monomers or oligomers for polycarbonates, polyesters, polyamides, polyurethanes and (epoxy) resins.