A multi-fuel pellet stove is a pellet stove that will burn not only wood pellets but also shelled corn (see corn pellets), hulled wheat, cherry pits, waste paper pellets, and many other alternative fuels. This flexibility, combined with a high burning efficiency, means that mutli-fuel pellet stoves can be extremely economical to run. A major advantage is the ability to burn whatever fuel happens to be readily available at the time.

Possibly the most advanced (and expensive) multi-fuel pellet stove currently on the market is the Dell-Point Europa 75, which burns a wide variety of biomass materials with an efficiency of 86% efficiency. In addition, the Europa 75 received the lowest emissions rating of any certified non-catalytic product in EPA history – less than 0.6 grams per hour, or 12.5 times below the allowable limit. Other multi-fuel models are available from Harvester,