AbstractThermal and catalytic pyrolysis of olive pomace as a second generation of biomass for the production of valuable bio‐oil has been investigated. The achieved results indicate that the maximum bio‐oil production yield through the non‐catalytic pyrolysis process is 56% at a temperature of 500°C, with a high content of oxygenated compounds. Since the main focus of this study was the catalytic upgrading of pyrolysis‐derived bio‐oil to valuable fuels, an industrial residue fluid catalytic cracking (RFCC) catalyst has been examined using different catalyst to biomass ratios. For a catalyst to biomass ratio of 0.5, the highest bio‐oil production yield was 44 wt% at 500°C and for a catalyst to biomass ratio of 5, the highest bio‐oil yield was 39 wt% at 400°C. The obtained experimental results indicate that, although the bio‐oil production yield decreases through catalytic pyrolysis, application of RFCC catalysts reduces the oxygenated compounds as undesirable products and increases aromatic and cyclic compound content in the bio‐oil, significantly. By increasing the temperature, the production of aromatic compounds as valuable products intensifies, and this compound group is identified as the main content of the derived bio‐oil. It is inferred that RFCC catalysts are appropriate candidates for use in the pyrolysis process for developing biofuel production on an industrial scale. © 2022 Society of Chemical Industry and John Wiley & Sons, Ltd.