Scaffolds of cell substrates are biophysical platforms for cell attachment, proliferation, and differentiation. They ultimately play a leading-edge role in the regeneration of tissues. Recent studies have shown the potential of bioactive scaffolds (i.e., osteo-inductive) through 3D printing. In this study, rice bran-derived biocomposite was fabricated for fused deposition modeling (FDM)-based 3D printing as a potential bone-graft analogue. Rice bran by-product was blended with poly caprolactone (PCL), a synthetic commercial biodegradable polymer. An extruder with extrusion process molding was adopted to manufacture the newly blended “green material.” Processing conditions affected the performance of these blends. Bio-filament composite was characterized using field emission scanning electron microscopy (FE-SEM) and energy dispersive X-ray spectroscopy (EDX). Mechanical characterization of bio-filament composite was carried out to determine stress-strain and compressive strength. Biological behaviors of bio-filament composites were also investigated by assessing cell cytotoxicity and water contact angle. EDX results of bio-filament composites indicated the presence of organic compounds. These bio-filament composites were found to have higher tensile strength than conventional PCL filament. They exhibited positive response in cytotoxicity. Biological analysis revealed better compatibility of r-PCL with rice bran. Such rice bran blended bio-filament composite was found to have higher elongation and strength compared to control PCL.