A highly dispersed nickel phosphide catalyst supported on SBA-15 was prepared and tested for the hydrotreating of tire pyrolysis oil (TPO). Physicochemical properties of the prepared catalyst were analyzed by CO uptake chemisorption, BET, TEM, and X-ray diffraction (XRD). An advanced technique with gas chromatography equipped with mass spectrometry and atomic emission detector was applied to investigate carbon-, sulfur-, and nitrogen-containing compounds in TPO. Hydrotreating tests were carried out in a fixed-bed continuous flow reactor at 350 °C, 3.0 MPa, and LHSV of 0.5 h−1. The Ni2P/SBA-15 exhibited an HDS conversion of 89.3% and an HDN conversion of 60.7%, which was comparable to the performance of a commercial NiMoS catalyst under the same conditions.