The huge amounts of accumulated unclaimed liquid hydrocarbon waste (waste from oil production and oil refining, etc.) determine the prospects for their involvement in energy production. The Waste-to-Energy technology improves economic efficiency through low energy costs. Efficient use of waste for energy production requires the creation of new technologies with high energy efficiency and low emissions. The paper proposes and substantiates a promising new environmentally friendly Waste-to-Energy method of burning liquid fuel with injection of superheated steam (SIM) to the combustion zone. The authors have developed a new burner to combust liquid waste when producing energy (protected by patents of the Russian Federation), in which the fuel is atomized by a jet of superheated steam. This approach provides efficient fuel dispersion, the ability to burn a wide range of waste, high fuel combustion efficiency, long service life due to the absence of fuel injectors, and reduction of toxic combustion products due to steam. The large-scale introduction of new burners based on the SIM combustion technology requires reliable scientific data and pilot test results. First of all, this is the influence of operating parameters (steam flow rate and temperature, fuel and air flow rates) on the combustion performance in the oil-steam burner being developed. The aim of the work is complex laboratory and experimental studies of the characteristics of fuel combustion in a new burner with a controlled excess air ratio. Forced air supply to the combustion chamber of a steam-oil burner is a novelty of the burner under study. Based on the results of laboratory studies, the optimal ratios of operating parameters were found (fuel, steam and air flow rates: 1:0.8:2.75), which provide the best thermal and environmental performance (NOx<35 ppm, CO < 25 ppm). A significant reduction in the content of nitrogen oxides in the flue gases up to 70% was achieved with a high completeness of fuel combustion due to the joint control of steam concentration and excess factor in the gas generation chamber. This claims the proposed burner as a low emission one. To confirm the achieved effect, in this work, for the first time, experimental tests of the burner were carried out under the operating conditions of a low-power boiler plant (10–40 kW). Successful tests prove the efficiency of using the developed burner for solving the problem of efficient and environmentally friendly combustion of fuel (including liquid combustible waste) for the production of thermal energy at small-scale energy facilities.