Abstract: Biotechnology and Green Revolution are interrelated issues. The Green Revolution is attributed to Biotechnology. The Green Revolution was an effort to reduce hunger through the improvement of agricultural crops in developing countries. The revolution has been engineered through the introduction of agricultural biotechnology that ensured scientifically bred, high yielding rice, wheat, and maize varieties in developing countries during the 40`s, 50`s and 60`s. Among the various dimensions of biotechnology, agricultural biotechnology is by degrees getting special attention of the governments of the developing nations particularly third world and fourth world with the extension of green revolution. The developments in agricultural biotechnology in these countries are so rapid that governments of such nations are stimulated to devise their national programs aimed at realizing its potential benefits. Organizations that produce and market biotech products have been able to convince the farmers that biotechnology has had a great contribution in increasing grain yields and thus revitalize green revolution. No doubt the green revolution sparked by agricultural biotechnology has served well to increase the agricultural productivity. To this view, many feel that this is the future of agriculture and there is much promise in this new technology. But others would like to wait for exaggerated claims of return to organic farming. Even many are ignorant about this technology. However, with this new technology and resulted green revolution researchers have triggered that the new technology is not the only panacea to increase grain yields and reduce hunger, some other factors still have the influence in solving the present problems. So the paper mainly discusses the expectations and potential risks of the agricultural biotechnology and its contribution toward accelerating green revolution in the developing countries with regard to promised claims of the technology.