Molten carbonate pyrolysis is proposed to convert digestate (DE) into biobased monophenols coupled with a metal-modified HZSM-5 catalyst. The results indicated that Fe/HZSM-5 was the most suitable catalyst for this process. The optimum reaction conditions for the process were WHSV = 15 h−1 at a pyrolysis temperature of 430 °C and a catalytic cracking temperature of 475 °C, and 79.22 % of monophenol components were achieved in the bio-oil. A kinetic study on the digestate with carbonates indicated that the alkali metal ion in the molten carbonates attached to the β-O-4 bonds and branch methoxy group of lignin, which promoted the removal of these functional groups, resulting in a reduction in the activation energy during monophenol generation. The Fe/HZSM-5 catalyst reinforced the generation of monophenol compounds in both concentration and yield. Compared with molten carbonate pyrolysis, the Fe on the catalyst not only benefited the breaking of β-O-4 bonds and methoxy groups of lignin but also lowered the temperature during molten carbonate pyrolysis to minimize the secondary cracking of phenolic compounds.