This study investigates co-production of hydrocarbons and carbonaceous materials from catalytic pyrolysis of water hyacinth (WH) and algae bloom (AB) to explore the potential of bio-waste management and bio-energy conversion based on product distribution, characterization and overall benefit. Various reaction conditions of temperature, WH to biomass ratio, catalyst to biomass ratio, CO2-cofeeding and steam-cofeeding were examined via pyrolysis experiments for high quality bio-oil and bio-char production. Artificial neural network (ANN) model and genetic algorithm (GA) were introduced to further optimize the reaction conditions based on the product overall benefit. The results show that reaction temperature and N2P-loaded zeolite play highly important roles in the enhancement of the product quality for the production of hydrocarbon-enriched bio-oil and carbonaceous materials. It was found that steam-cofeeding is benefit to the generation of hydrocarbons, especially the aliphatic hydrocarbons, and the improvement of HHVs for bio-oil and bio-gas. CO2-cofeeding is a potential strategy for the enhancement of the bio-char specific surface area (SSA) as well as the improvement of H2, CO and C2H6 production. A maximum overall benefit of 749 US$/ton∙biomass was evaluated for the catalytic pyrolysis products of bio-oil, bio-char and bio-gas. The carbon number distribution in the bio-oil is in the same range of jet fuel. Essentially, this study addresses a highly potential approach for transforming bio-waste into high-benefit fuels.