The coupled combustion of biomass and organic solid wastes including oil sludge has attracted much attention. Although the optimal mixing ratio of different coal types and biomass has been extensively studied, little attention has been paid to oil sludge that has undergone co-combustion. In this study, the combustion characteristics of blended fuel for coal, biomass and oil sludge under different mixing ratios are studied via a thermogravimetric test and differential thermal analysis. Kinetic analysis of tri-fuel is performed using the Flynn–Wall–Ozawa (FWO) and Dolye methods. The results show that the bituminous coal combustion process mainly involves the combustion of fixed carbon (236.0–382.0 °C). Wood pellet combustion (383.0–610.0 °C) has two processes involving the combustion of compound carbon and fixed carbon. Blending wood pellets effectively enhances combustion efficiency. Wood pellets from Korla (KOL) have the most obvious effect on reducing the ignition temperature. The blending combustion of bituminous coal (SC), wood pellets from Hutubi (HTB) and oil sludge (OS) have significant synergistic effects. As the OS mixing ratio increases from 10% to 20% with 45% HTB, Ti and Th decrease from 354.9 and 514.3 °C to 269.8 and 452.7 °C, respectively. In addition, f(α) is [−ln(1 − α)]2 for tri-fuel in most mixing ratios when α < 0.5, while f(α) becomes [−ln(1 − α)]3 at α > 0.5. At a high-HTB-level mixing ratio, increasing the OS content causes a decrease in activation energy to 35.87 kJ mol−1. The moderate blending of oil sludge improves the pre-finger factor and the combustion performance.