Development of efficient catalysts for steam reforming of biomass tar is crucial for the widespread application of biomass gasification. In this work, a novel biochar nano-catalyst (BN) is conveniently prepared via one-step catalytic pyrolysis, using K and Fe to adjust the surface structure of the biochar, thereby enhancing the activity for toluene reforming. Fe–K/BN is tested in a fixed-bed reactor for steam reforming of toluene, a model compound of biomass tar, achieving a 100% toluene conversion rate at 650 °C. Fe–K/BN is activated in situ with steam to increase their specific surface area and enhance the O-containing functional groups on the surface, improving toluene adsorption and reforming. Finally, the stability of Fe–K/BN is tested in the simulated syngas, maintaining a 100% toluene conversion rate during a 26-h continuous catalytic reforming experiment. This work provides a promising strategy for the design of an active and stable catalyst for toluene reforming, which has potential for application of tar steam reforming during biomass gasification.