In this paper, the co-combustion behavior of the walnut shell, biochar, and coal, and the respective binary and ternary blends were investigated by thermogravimetric analysis (TGA) in the oxy-fuel atmosphere (21% O2/79% CO2). The combustion reactivity of coal was similar to biochar but lower than that of the walnut shell. The presence of the walnut shell improved the combustion performance of coal and biochar. The interaction between only biochar and coal was inhibited in the binary blends. The presence of the walnut shell in the ternary blend covered up the inhibition between biochar and coal. The average activation energy of each sample was obtained using the Kissinger-Akahira-Sunose (KAS) and Flynn-Wall-Ozawa (FWO) kinetic models. The results of this study provide a reference for the rational utilization of biomass and biochar and the practical improvement of the thermal conversion efficiency of coal.