The conversion of oil shale semi-coke (OSC) is into high-value materials has been an attractive area in waste recycling. In this study, a novel Fenton-like catalyst (Fe3O4/POSC) was successfully prepared using in-situ one-pot oxidation precipitation method for degradation of Methylene Blue (MB). The composition, morphology and properties of the materials were characterized. It was found that Fe3O4/POSC was a mesoporous material with graphene-like structure. The synergistic effect among oxygen functional groups, oxygen vacancies, unsaturated bonds and Fe2+/Fe3+ cycling in Fe3O4/POSC improved the superior degradation performance of MB. Under the optimal conditions (catalyst 1.0 g/L, pH 3.0, and H2O2 25 mmol/L), Fe3O4/POSC exhibited highly efficient degradation (92.73 % in 30 min, 99.54 % in 180 min) and stability (89.72 % after 6 cycles) of MB with low Fe leaching(<0.505 mg/L), following pseudo-first order degradation kinetics. Free radical quenching experiments showed that both •O2-/ HO2• and OH• participated in Fenton-like system, and OH• was the dominant species in MB degradation. According the degradation products of MB by GC-MS, the possible mechanism was proposed. This paper provided a better way to solving the problem of dye wastewater through the effective application of OSC waste.